A Secretarial Audit is a compliance audit conducted by a practicing Company Secretary to assess and verify a company's adherence to various statutory and regulatory requirements.

Form MGT-8 is a certification by a company secretary in practice, filed along with the board’s report under Section 134(3) of the Companies Act, 2013, certifying compliance with all applicable statutory requirements by a company.

Listed companies, public companies having a paid-up share capital of 50 crore INR or more, or public companies with a turnover of 250 crore INR or more are required to obtain and file a Secretarial Audit Report.

The audit covers compliance with the Companies Act, 2013, Depositories Act, 1996, Foreign Exchange Management Act (FEMA), securities laws, and other applicable regulations.

Only a practicing Company Secretary is authorized to conduct a Secretarial Audit and issue the Form MGT-8.

Form MGT-8 aims to certify the company’s compliance with all the applicable provisions of statutory and regulatory requirements, ensuring transparency and accountability in corporate governance.

Form MGT-8 should be filed annually, along with the company’s board report, before the due date of holding the Annual General Meeting (AGM).

Failure to comply with the filing requirements of Form MGT-8 can lead to penalties for the company and its officers, which may include fines or imprisonment.

Yes, Form MGT-8 can be filed online through the Ministry of Corporate Affairs (MCA) portal along with the annual return and other required documents.

If discrepancies or non-compliance issues are identified during the Secretarial Audit, the company should take immediate corrective measures and disclose such discrepancies in the Board’s report along with the auditor’s report.