Section 12 of AA : Section 12: Accounts And Audit
AA
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Explanation using Example
Imagine a scenario where the Bar Council of Maharashtra and Goa, a State Bar Council, has just concluded its financial year. According to Section 12(1) of The Advocates Act, 1961, the Council is required to maintain proper books of accounts. To comply with this, they have a designated team ensuring that their financial records are kept meticulously in prescribed formats.
As the financial year ends, the Council hires a certified auditor, who is qualified under the Companies Act, 1956, to audit their accounts as mandated by Section 12(2)...
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