On the way to enhance the standards of Corporate Governance & transparency in compliances related to financial reporting, Government has changed various provisions and companies will have to comply with stricter accounting rules relating to a range of subjects, including off-the-book deals and assets held by promoters and related parties. New Rules also require auditors to play a stronger role in assessing how firms maintain their books of accounts.

Amended Companies (Accounts) Rules stipulates that companies record an audit trail of all transactions. It mandates that the accounting software create an edit log of all changes made in the books of account.

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