Which among the following are NOT qualified to be appointed as auditor of a company?
(1) An individual who is a Chartered Accountant and holds a Certificate of Practice as per CA Act, 1949
(2) A limited liability partnership firm, which has all partners as Chartered Accountants
(3) Officer or employee of a company who is qualified Chartered Accountant degree holder too
(4) Any Chartered Accountant whose appointment will result in the person being the auditor of more than 10 companies
Choose the most appropriate option:
A. (1) and (2)
B. (2), (3) and (4)
C. (3) and (4)
D. (1), (2) and (4)
Answer: Option B
Related Questions on Auditing
A. 2, 1, 3, 4, 5
B. 1, 2, 3, 4, 5
C. 5, 1, 4, 3, 2
D. 4, 1, 3, 2, 5
Auditing and accounting are concerned with which of the following financial statements?
A. Auditing uses the theory of evidence to verify the financial information made available by accountancy
B. Auditing lends credibility dimension and quality dimension to the financial statements prepared by the accountant
C. Auditor should have a thorough knowledge of accounting concepts and convention to enable opinion on financial statements
D. All of the above
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