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    Question

    Under Section 144 of the Companies Act, 2013, an auditor

    appointed under the Act is prohibited from providing which of the following services directly or indirectly to the company or its holding company?
    A Investment Banking Services. Correct Answer Incorrect Answer
    B Management Services. Correct Answer Incorrect Answer
    C Internal Audit. Correct Answer Incorrect Answer
    D All of the above. Correct Answer Incorrect Answer
    E None of the above. Correct Answer Incorrect Answer

    Solution

    Section 144 of the Companies Act, 2013 states: An auditor appointed under this Act shall provide the company  only such other services as are approved by the Board of Directors or the audit committee, as the case may be, but which shall not include any of the following services (whether such services are rendered directly or indirectly to the company or its holding company or subsidiary company , namely:— (a)  accounting and book keeping services; (b)  internal audit; (c)  design and implementation of any financial information system; (d)  actuarial services; (e)  investment advisory services; (f)  investment banking services; (g)  rendering of outsourced financial services; and (h)  management services. (i) any other kind of services as may be prescribed:

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