06/06/2018 Financial & Legal Services
A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of offering loans, accepting deposits under any scheme or arrangement by government or local authority. A NBFC cannot accept demand deposits and it is not a part of the payment and settlement system.
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The goal of an audit of financial statements is to facilitate the auditor to shows an opinion whether the financial statements of the NBFC are prepare...