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      Question

      An auditor of a listed company shall not be appointed,

      if it is an individual as auditor, for?
      A Less than one term of two consecutive years Correct Answer Incorrect Answer
      B More than one term of five consecutive years Correct Answer Incorrect Answer
      C More than one term of ten consecutive years Correct Answer Incorrect Answer
      D More than five terms of five consecutive years Correct Answer Incorrect Answer

      Solution

      Section 139.Appointment of auditors: (2) No listed company or a company belonging to such class or classes of companies as may be prescribed, shall appoint or re-appoint— (a) an individual as auditor for more than one term of five consecutive years; and (b) an audit firm as auditor for more than two terms of five consecutive years.

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