Question
What is the maximum duration the Rajya Sabha can delay
the Finance Bill, proposed by the Lok Sabha?Solution
According to parliamentary rules in India, the Rajya Sabha must return a Finance Bill, classified under Money Bills, to the Lok Sabha within fourteen days. This expedited timeline underscores the limited role of the Rajya Sabha in matters pertaining to financial legislation.
An audit engagement letter is primarily issued to:
An auditor finds that significant information is missing from financial statements and the effect is material and pervasive. What type of audit opinion ...
During an audit, the auditor notices that a single person in a company is responsible for authorizing transactions, maintaining records, and custody of ...
Internal audit is conducted to:
During audit of XYZ Ltd., the auditor noted that the management concealed certain pending litigations that could affect profitability. However, the CFO ...
Which of the following best describes the primary objective of a system of internal control in a large organization?
Internal check is a part of the:
The risk that an auditor's procedures will fail to detect a material misstatement is known as:
While applying analytical procedures, auditor notes gross profit margin fell from 25% to 18% though sales increased. Inventory valuation appears unchang...
Audit program is prepared by:
