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    Question

    An auditor of a listed company shall not be appointer,

    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 two terms of five consecutive years Correct Answer Incorrect Answer
    D More than five terms of five consecutive years Correct Answer Incorrect Answer
    E Not more than three terms of five consecutive years Correct Answer Incorrect Answer

    Solution

    Companies Act┬а 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-appointтАФ (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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