[Solved] The duties of internal auditor is prescribed by

The duties of internal auditor is prescribed by

a) Companies act

b) Company law board

c) Management

d) None of these

Answer: (c) The duties of internal auditor is prescribed by Management. “Clause 138. – This is a new clause and seeks to provide that prescribed Companies shall be required to conduct an internal audit of functions and activities of the company by internal auditors appointed by the company. Manner of conducting the internal audit shall be prescribed by the Central Government.”

More MCQ and Answers on Auditing

  1. Which among the following is not a right of company auditors.
  2. Test checking is done when there is an effective system of _________
  3. Test checking means
  4. Audit working papers are
  5. Current audit file consists of
  6. ____ begins where accounting ends.
  7. ________audit is compulsory for joint stock companies.
  8. Treating revenue expenditure as capital expenditure is an example of error of
  9. Financial statements are prepared by
  10. Preliminary expanses not written off are treated as

Comments