As of my last knowledge update in October 2023, the statutory auditor of Reliance Industries Limited is Deloitte Haskins & Sells LLP. However, it's advisable to check the latest financial statements or the company's official website for the most current information, as auditor appointments can change.
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The auditor's function in ensuring that the organisation conforms to policies procedures and statutory matters.
A statutory report is a formal document required by law that provides information on an organization's financial performance, compliance, and governance. When auditing a statutory report, the auditor verifies the accuracy and completeness of the information presented by examining financial records, assessing compliance with relevant regulations, and conducting tests of controls and transactions. This process ensures that the statutory report reflects a true and fair view of the organization's financial status and operations. The auditor then provides an opinion on whether the report meets statutory requirements and is free from material misstatements.
The legal position of an auditor encompasses their responsibilities and liabilities as defined by statutory regulations and professional standards. Auditors are required to conduct their work with due diligence and objectivity, ensuring compliance with applicable laws, such as the Sarbanes-Oxley Act in the U.S. They can be held liable for negligence, fraud, or failure to detect material misstatements in financial statements. Additionally, auditors enjoy certain legal protections, such as the defense of good faith reliance on management representations.
Reliance Industries is a company headquartered in Mumbai, India. It has a Founder Chairman, a board of directors, and board committees that run the company. The company claims to value corporate governance policies like transparency and accountability.
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The auditor's function in ensuring that the organisation conforms to policies procedures and statutory matters.
Reliance Industries was created in 1966.
Reliance Industries's population is 22,661.
Statutory Audits are those mandated by a statute. So by that definition even tax audit is a statutory audit.The management of the organization makes the appointment of an internal auditor. The statutory auditor is appointed by different authorities. First statutory auditors are appointed by the shareholders in the annual general meeting. The main object of the statutory audit is to form an opinion on the financial statement of the organization auditor has to state that whether the financial statements are showing the true and fair view of the affairs of the organization or not. The main object of the internal audit is to detect and prevent the errors and frauds.The scope of the statutory audit is fixed by the company act. it can not be changed by mutual consent between the auditor and the management of the audited business unit. The scope of the internal audit is fixed by the mutual consent of the auditor and the management of the unit under audit.
No It's not.
Reliance Industries is an Indian business company based in Mumbai. It was founded in 1966 by Dhirubhai Ambani by the name of Reliance Commercial Corporation.
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Reliance Industries is headed by Mukesh Ambani.