Is there anyone who can post the answers of 2 marks questions asked in pcc audit paper??

IV. Audit Committee====False.

Reason: Audit Committee required only if paid up capital of the company is more than 5 crore.

V. Dividend====False.

Reason: Compulsory requirement for making provisions for depreciation before payment of dividend

As desired by section 205 of the Act, no company can pay dividend in any year without charging depreciation in the profit and loss account for the current year and that there is no balance of un provided depreciation of any earlier year or years.

However, the Central Government has power to allow any company in the public interest to pay dividend for any financial year out of the profits for that year or any previous financial year without providing for depreciation. [Section 205(1)(c)] The application is required to be filed to the Central Government electronically in E-form-23AAC.

VI. Misstatement====False.

Reason: Auditor is not required to intimate regulatory. His duty is limited to informed company and shareholders via his Audit Report.

VII. AOA and MOA study by Auditor====False.

Reason: AOA and MOA study by Auditor is not requirerd as for the appointment of Auditor previous authorisation by AOA or MOA is not required.

VIII. Issue of share at discount====False

Reason: General meeting resolution is not required to issue shares at discount and special resolution is a general meeting resolution.

X. Appointment of Auditor 25% subscribed capital====False

Reason: Appointment should be made through special reolution u/s 224A. Refer section 224A

kya ankur sir...aise answers post karoge toh hum agle papers k lie kaise padhenge...

@ Rohit - aise tensionwale questions mat pucha kar yaar...

anyways thanks...i got al of em rite as per the above...!!!!!!!!! lol

Originally posted by : Ronak Choudhary
	kya ankur sir...aise answers post karoge toh hum agle papers k lie kaise padhenge... @ Rohit - aise tensionwale questions mat pucha kar yaar...   anyways thanks...i got al of em rite as per the above...!!!!!!!!! lol

Great yaar...All correct...Matlab phod dala Audit ko...Paper kya halwa tha. 

With this kind of easy paper good writing and presentation skills becomes very very important.

And these good writing and presentation skills becomes a big reason of low marks. But never mind friends show your good writing and presentation skills to the examiner.

All the Best

Originally posted by : Rohit Kapoor
	sir...one more... .auditor is not required to intimate regulatories...as per sa-240...he should intimate appropriate level of mgt.. is this answer correct....

As per SA-240 he should intimate appropriate level of management but not to the concerned authority.

Like if company make a default in ROC filing or Income Tax filing than it is not the duty of auditor to inform the ROC or Income Tax department. He must submit his report to management.