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

    Question

    What is the tenure for which an auditor can be appointed

    as per the Companies Act?
    A For a total term of fifteen years Correct Answer Incorrect Answer
    B An individual as auditor for one term of five consecutive years Correct Answer Incorrect Answer
    C An audit firm as auditor for two terms of five consecutive years Correct Answer Incorrect Answer
    D Either a or b or c Correct Answer Incorrect Answer
    E Both b & c 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.

    Practice Next
    More Banking Related Laws Questions
    ask-question