Under Section 143(3)(i) of the Companies Act, 2013 (2013 Act), an auditor of a company is required to state in his/her audit report whether the company has an adequate internal financial controls (IFC) system in place and the operating effectiveness of su...

The advent of technology has revolutionized businesses and has done away with paperwork in offices. A lot of space has been saved as files are now stored in electronic gadgets and virtual storage.