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Audit & Ethics- CA final > Company Audit > Flashcards

Company Audit Flashcards

1
Q

Sec. 138

A

Internal Audit

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2
Q

Sec. 139

A

Appointment of Auditors

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3
Q

Sec. 140

A

Removal, resignation of auditors and giving special notice

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4
Q

Sec. 141

A

Eligibility, Qualification and Disqualification of auditors

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5
Q

139(1)

A

Appointment of Subsequent auditor of Non.Govt Co. at AGM
r/w Rule 3- Manner and Procedure of selection and appointment of auditors
r/w Rule 4 - Conditions for appointment and notice to Registrar

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6
Q

139(2)

A

Rotation of auditors

r/w Rule 5 Class of companies

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7
Q

139(3)

A

Rotation of Auditing Partner and his team

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8
Q

139(4)

A

Power of CG to prescribe the manner of rotation

r/w Rule 6 Manner of Rotation of Auditors by the co.s on expiry of the term

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9
Q

139(5)

A

Appointment of subsequent auditor of the Govt. CO.

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10
Q

139(6)

A

Appointment of first auditor of Non-Govt. co.

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11
Q

139(7)

A

Appointment of first auditor of Govt. co.

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12
Q

139(8)

A

Filling of casual vacancies

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13
Q

139(9)

A

Re-appointment of Retiring Auditor

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14
Q

139(10)

A

No auditor is appointed or reappointed at AGM

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15
Q

139(11)

A

Considerations of recommendations of Audit Committee

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16
Q

140(1)

A

Removal of auditor before expiry of his term

r/w Rule 7

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17
Q

140(2)

A

Filing of statement in case of Resignation

r/w Rule 8 - resignation of auditor

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18
Q

140(3)

A

Penalty for non-compliance of sec.140(2)

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19
Q

140(4)

A

Removal of auditor on expiry of tenure/ giving of special notice

20
Q

140(5)

A

Directions for change of auditors

21
Q

141(1)

A

Eligibility for appointment as auditor

22
Q

141(2)

A

Authorise partner to act and sign in case of audit firm and LLP

23
Q

141(3)

A

Disqualifications to be appointed as auditor

r/w Rule 10 - Disqualifications of Auditor

24
Q

141(4)

A

Vacation of office in case of subsequent disqualifications

25
Q

Sec. 142

A

Remuneration of auditors

26
Q

Sec. 143

A

Powers and duties of auditors and auditing standards

27
Q

143(1)

A

Right of access/ right t obtain information/ inquiry into propriety matters

28
Q

143(2)

A

Reporting on books and accounts and FS

29
Q

143(3)

A

Reporting on Other Matters
r/w Rule 10A Internal Financial Controls
r/w Rule 11 Other matters to be included in Auditor’s report

30
Q

143(4)

A

Reasons for adverse remarks for qualifications

31
Q

143(5)

A

Directions by CAG to auditor of Govt. co.

32
Q

143(6)

A

Order by CAG of supplementary audit of FS of Govt. co.

33
Q

143(7)

A

Order by CAG of test audit of accounts of Govt. co.

34
Q

143(8)

A

Audit of accounts of Branch office

r/w Rule 12 - Duties and Powers of the co. auditor’s with reference to audit of the branch and the branch auditor

35
Q

143(9)

A

Compliance with Standards of Auditing

36
Q

143(10)

A

Powers of CG to prescribe Standards of Auditing

37
Q

143(11)

A

Powers of CG to issue order for specified co.s to report on certain matters

38
Q

143(12)

A

Reporting on Fraud

r/w Rule 13 Reporting of Frauds by Auditor

39
Q

143(13)

A

No breach of duty if reporting u/s 143(12) is done in good faith

40
Q

143(14)

A

Application of Sec.143 over Cost Accountant and CS

41
Q

143(15)

A

Penalty for non-compliance of Sec.143(12)

42
Q

Sec. 144

A

Auditor not to render certain services

43
Q

Sec. 145

A

Auditor to sign Audit Reports

44
Q

Sec. 146

A

Auditors to attend General Meeting etc

45
Q

Sec. 147

A

Punishment for contravention

46
Q

Sec. 148

A

CG to specify audit of items of cost in respect of certain co.s
r/w Rule 14- Remuneration of Cost Auditor

Audit & Ethics- CA final (3 decks)

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