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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?

One term of 5 years Signup and view all the answers

How long can an individual auditor serve for?

One term of 5 years Signup and view all the answers

How long can an individual auditor hold office?

One term of 5 years Signup and view all the answers

What is required to remove an auditor from their position?

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 Signup and view all the answers

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

5 years Signup and view all the answers

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

5 years Signup and view all the answers

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Description

Test your knowledge on the appointment of first auditors for non-government companies with this quiz. Learn about the responsibilities of the Board of Directors and the steps to be taken if they fail to appoint the first auditor. Master the key concepts and terms related to this topic and boost your understanding of corporate governance.