Audit Strategy & Programming
Quick practice
Question 1 of 5
CA. X is a partner in M/s AB & Associates and M/s MN & Associates simultaneously. M/s AB & Associates has completed its tnure of 10 years as an auditor in XYZ Ltd. immediately preceding the current financial year. It may be noted that the provisions for applicability of rotation of auditors are applicable to XYZ Ltd. Now, the company wants to appoint M/s MN & Associates as auditor for 5 years
M/S MN & Associates cannot be appointed as auditor being not eligible u/s 141(1) of Companies Act, 2013.
M/S MN & Associates cannot be appointed as auditor being not eligible as per Rule 6 of Companies (Audit & Auditor's) Rules, 2014.
M/S MN & Associates cannot be appointed as auditor being not eligible u/s 141(3) of Companies Act, 2019.
M/S MN & Associates cannot be appointed as auditor being not eligible as per proviso to Sec. 139(2) of Companies Act, 2019
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