[IICA Independent Director] 09, Accounts, Audit and the Board's Reporting Duties

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Primary board responsibilities for financial statements and the Directors' Responsibility Statement under Section 134 of the Companies Act. - The distinct roles of statutory financial audit versus secretarial compliance audit under Section 204. - How SEBI LODR obligations for listed entities differ from general Companies Act rules. - Why CSR oversight requires verified project implementation and utilization evidence, not just financial disbursement. - Critical exam traps regarding board accountability and key decision rules for test preparation. This episode is an independent educational prep resource. For practice questions and study tools, visit https://open-exam-prep.com/practice/in-iica-independent-director and subscribe to our YouTube channel at https://www.youtube.com/@Open-exam-prep . Sources checked: September 28, 2026: https://www.mca.gov.in/ and https://www.independentdirectorsdatabank.in/