Appointment of First Auditors Quiz

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Questions and Answers

When must the first auditor of a company be appointed?

  • Within 120 days of the date of registration of the company
  • Within 30 days of the date of registration of the company (correct)
  • Within 60 days of the date of registration of the company
  • Within 90 days of the date of registration of the company

When should the first auditor of a company be appointed?

  • Within 60 days of the date of registration of the company
  • Within 90 days of the date of registration of the company
  • Within 30 days of the date of registration of the company (correct)
  • Within 120 days of the date of registration of the company

When must the first auditor of a company be appointed?

  • Within 90 days of the date of registration of the company
  • Within 30 days of the date of registration of the company (correct)
  • Within 120 days of the date of registration of the company
  • Within 60 days of the date of registration of the company

How long can an individual auditor hold office?

<p>One term of 5 years (B)</p> Signup and view all the answers

How long can an individual auditor serve for?

<p>One term of 5 years (A)</p> Signup and view all the answers

How long can an individual auditor hold office?

<p>One term of 5 years (A)</p> Signup and view all the answers

What is required to remove an auditor from their position?

<p>Reasonable opportunity to be heard, prior approval of CG, special resolution in GM, special notice to be given in case retiring auditor is not appointed in AGM (B)</p> Signup and view all the answers

What is the cooling period for an audit firm after two terms of 5 years each?

<p>5 years (D)</p> Signup and view all the answers

What is the cooling period for an audit firm after two terms of 5 years each?

<p>5 years (D)</p> Signup and view all the answers

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