hard20 pts · first answer countsaudit-reportingcompanies-act

Private company exempt from IFC reporting

A private company has turnover of ₹40 crore in its latest audited statements and peak bank borrowings of ₹10 crore this year. Must the auditor report on internal financial controls under section 143(3)(i)?

A.Yes, IFC reporting applies to every company under the ActB.No, it is within the MCA exemption for such private companiesC.Yes, because it has bank borrowings during the yearD.Only if the board or audit committee asks for it

Discussion 0

Join free to post in the discussion.

Private company exempt from IFC reporting

Discussion 0

Related questions