[Solved] Management audit is

Management audit is

a) Compulsory

b) Not compulsory

c) Compulsory under Income Tax Act

d) Compulsory under Indian Contract Act.

Answer: (b) Management audit is not compulsory under law. The shareholders or board of directors may appoint the management auditor. No specific qualifications have been prescribed for the management auditor. Generally chartered accountant are appointed as the management Page 3 auditor.

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