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True / false
C & AG orders to conduct test audit of the Accounts of a Government company .... ?
Replies (6)
correct the statement
why ..... ? C& AG conduct test audit and also comment on same on test audit
supplementary / Test Audit .... both are same ....
True statement...,
The Companies Act, 1956 empowers the Comptroller and Auditor General of India to:
appoint/ re-appoint the auditors of a Government Company;
direct the manner in which accounts shall be audited;
give such instructions to the auditors in regard to any matter relating to audit;
to conduct a supplementary or test audit of the accounts; and
to comment upon or supplement the audit report of the statutory auditors.
Correct Statement.
.
Reason: As per section 143(7) of the Companies Act, 2013, C&AG is authorised to conduct supplementary or test audit in the case of a government company.
Correct statement as C&AG can conduct supplementary audit but it has to be conducted within 60 days of receiving audit report from the auditor
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