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Questions and Answers
Who can conduct the first type of audit if turnover exceeds Rs. 2 crore?
Who can conduct the first type of audit if turnover exceeds Rs. 2 crore?
- Company Secretary
- Internal Auditor
- Chartered Accountant/Cost Accountant (correct)
- Tax Auditor
When is a registered person required to undergo a special audit?
When is a registered person required to undergo a special audit?
- At the end of each financial year
- When filing for tax exemption
- Only if turnover exceeds Rs. 2 crore
- During any stage of scrutiny, inquiry, investigation or any other proceedings (correct)
Who can undertake the normal audit of a registered person?
Who can undertake the normal audit of a registered person?
- Commissioner or any officer authorised by him (correct)
- Chartered Accountant
- Tax Consultant
- Cost Accountant
What form should be used to furnish audited annual accounts and a reconciliation statement if turnover exceeds Rs. 2 crore?
What form should be used to furnish audited annual accounts and a reconciliation statement if turnover exceeds Rs. 2 crore?
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When might a special audit be directed for a registered person?
When might a special audit be directed for a registered person?
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