medium10 pts · first answer countsfraud-riskcompanies-act

Reporting fraud under the Companies Act

During the audit, the statutory auditor of an Indian company has reason to believe that employees committed a fraud involving ₹1.5 crore against the company. What does Section 143(12) require?

A.Report it only to the policeB.Report it to the Central Government, following the prescribed processC.Disclose it to the mediaD.There is no reporting duty for the auditor

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Reporting fraud under the Companies Act

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