📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Auditor identifies fraud of ₹1.5 crore in a

    state-sponsored pension product. What action as per Companies Act/SA?
    A Report to management only Correct Answer Incorrect Answer
    B Report to Audit Committee and Central Govt Correct Answer Incorrect Answer
    C Report to SEBI Correct Answer Incorrect Answer
    D Qualified opinion Correct Answer Incorrect Answer
    E Use for insurance claim only Correct Answer Incorrect Answer

    Solution

    Under SA 240 and Companies Act, fraud ≥ ₹1 crore must be reported to Audit Committee and Central Government promptly.

    Practice Next
    More Previous year papers Questions
    ask-question