Special audit is conducted at the order of the Central Government. Which section gives such powers?

Special audit is conducted at the order of the Central Government. Which section gives such powers

Special audit is conducted at the order of the Central Government. Which section gives such powers?

 Options:

a) Section 233(A)
b) Section 233A
c) Section 242(A)
d) Section 242A

The Correct Answer Is:

  • c) Section 242(A)

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Auditor of a ……company does not have right to visit foreign branches of the company

Auditor of a ……company does not have right to visit foreign branches of the company

Auditor of a ……company does not have right to visit foreign branches of the company

 Options:

a) Unlimited liability
b) Manufacturing
c) Banking
d) Non-profit making

The Correct Answer Is:

  • b) Manufacturing

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The branch auditor is appointed by –

Looking for the answer to the question below related to Company Auditor ? The branch auditor is appointed by –  Options: a) Shareholders in an annual general meeting b) Shareholders in general meeting c) Board of directors in board meeting d) Any of the above   The Correct Answer Is: b) Shareholders in general meeting   … Read more

Which of the following statements with regard to rules regarding exemption from branch audit is not true?

Looking for the answer to the question below related to Company Auditor ? Which of the following statements with regard to rules regarding exemption from branch audit is not true?  Options: a) A branch office of a company can be granted exemption on the basis of quantum of activity criterion b) If a satisfactory arrangement of … Read more

Under which of the following section auditor has a duty to enquire into six specified matters and report by exception?

Under which of the following section auditor has a duty to enquire into six specified matters and report by exception?

Under which of the following section auditor has a duty to enquire into six specified matters and report by exception?

 Options:

a) Section 227(4A)
b) Section 227 (IA)
c) Section 227 (2)
d) Section 227(3)

The Correct Answer Is:

b) Section 227 (IA)

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The principal auditor as per clarification issued by the ICAI does not have any right to-

The principal auditor as per clarification issued by the ICAI does not have any right to-

The principal auditor as per clarification issued by the ICAI does not have any right to-

 Options:

a) Inspect working papers of the branch auditor
b) Visit branches
c) Seek information necessary for audit purposes
d) Incorporate the branch audit report in his audit report

The Correct Answer Is:

a) Inspect working papers of the branch auditor

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A statutory auditor has a right of access at all times to

A statutory auditor has a right of access at all times to

A statutory auditor has a right of access at all times to

 Options:

a) Books and accounts of a company
b) Books, accounts and documents of the company
c) Books, accounts and vouchers of the company
d) Notices and documents of the company

The Correct Answer Is:

c) Books, accounts and vouchers of the company

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Who out of the following cannot be appointed as a statutory auditor of the company?

Who out of the following cannot be appointed as a statutory auditor of the company

Who out of the following cannot be appointed as a statutory auditor of the company?

 Options:

a) Erstwhile director
b) Internal auditor
c) Relative of a director
d) Only (b) and (c)

The Correct Answer Is:

  • b) Internal auditor

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Which of the following statements is not correct regarding removal of first auditor before expiry of the term?

Which of the following statements is not correct regarding removal of first auditor before expiry of the term?

Which of the following statements is not correct regarding removal of first auditor before expiry of the term?

 Options:

a) He is removed at a general meeting
b) The shareholders are authorized to do so
c) The approval of the Central Government is required for such removal
d) The provisions for such removal are contained in section 224(7)

The Correct Answer Is:

c) The approval of the Central Government is required for such removal

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