Which of the following persons is qualified to be a company auditor Mcq?
(1) A person shall be eligible for appointment as an auditor of a company only if he is a chartered accountant in practice. (2) Where a firm is appointed as an auditor of a company, only the partners who are Chartered Accountants in practice shall be authorised by the firm to act and sign on behalf of the firm.
A partnership firm can be appointed as a statutory auditor of limited company1. Appointment can be made in the name of the firm2. Majority of the partners should be practicing in India3. All partners should be chartered accountants4.
Below are the persons who are not eligible for appointment of auditor of the company: A body corporate. An officer or employee of the company. A person who is a partner of an officer or employee of the company.
- Qualification of a Company Auditor:
- Qualification [sec226 (1)]:
- The auditor of a co. ...
- In the case of an individual, he should be a Chartered Accountant within the meaning of Chartered Accountants Act 1949 i.e. he should be holding certificate of practice.
Appointment of First Auditors: Section 139(6) of the Companies Act, 2013 provides that the first auditor or auditors are to be appointed by the Board of directors within 30 days from the date of the registration of the company These auditors will work until the conclusion of the First Annual general meeting.
(1) A person shall be eligible for appointment as an auditor of a company only if he is a chartered accountant in practice. (2) Where a firm is appointed as an auditor of a company, only the partners who are Chartered Accountants in practice shall be authorised by the firm to act and sign on behalf of the firm.
Only a Practicing Cost Accountant or a firm of cost accountant can be appointed as cost auditor and shall conduct cost audit of the company. The Board of Directors shall appoint the Cost Auditor. The Cost audit shall be conducted simultaneously with the Audit under section 143 of the companies act,2013.
As per the Companies Act, 2013, only a practising Chartered Accountant (CA) is eligible to be appointed as the statutory auditor in a company. A person shall not be qualified for appointment as statutory auditor of a company unless there is eligibility on the part of the person to act in the capacity of an auditor.
(a) only a chartered accountant is eligible to be appointed as an auditor. (b) new disqualification have been introduced for appointment as an Auditor of the Company. (c) in case of a firm or LLP, only the partners who are chartered accountants shall be authorised to act and sign on behalf of firm or LLP.
(i) any person whose subsidiary or associate company or any other form of entity, is engaged as on the date of appointment in consulting and specialised services as provided in section 144 is not eligible to appointment as an auditor of a company.
Which of the following is responsibility of auditor Mcq?
Auditor's duty regarding verification
Ensuring the existence of assets. Legal ownership and possession of assets. Ensuring proper valuation of assets. Ensuring the assets are free from any charge.
| Q. | Which of the following is not a kind of audit? |
|---|---|
| B. | Government and continuous audit |
| C. | Final, Interim, management audit |
| D. | None of the above |
| Answer» d. None of the above | |
An auditor is a person authorized to review and verify the accuracy of financial records and ensure that companies comply with tax laws.
Section 139(6) of the Companies Act, 2013 lays down that first auditor of a company, other than a Government company, shall be appointed by the Board of Directors within 30 days from the date of registration of the company and in the case of failure of the Board to appoint such auditor, it shall inform the members of ...
Ans. : (D) Audit program.
35) Internal auditor is appointed by – (A) The management (B) The shareholders (C) The government (D) statutory body Ans. : (A) The management.
Appointed by the Comptroller and Auditor General of India. This has to be done within 60 days from the date of Registration. Appointment can also be done by Board Of Directors within 30 days of incorporation. Members can also appoint at an Extraordinary General Meeting within 60 days of Information.
Within thirty days from the date of the registration of the Company other than the Government Company, it's Board of Directors need to appoint an individual or a firm as the first auditor of the company. The members shall ratify the appointment of the first auditor in the first annual general meeting of the company.
Section 139(6) of the Companies Act, 2013 lays down that first auditor of a company, other than a Government company, shall be appointed by the Board of Directors within 30 days from the date of registration of the company and in the case of failure of the Board to appoint such auditor, it shall inform the members of ...
(2) The auditor of a government company shall be appointed or re- appointed by the Central Government on the advice of the Comptroller Auditor- General of India: 1 Provided that the limits specified in sub- sections (1B) and (1C) of section 224 shall apply in relation to the appointment or re- appointment of an auditor ...
