Q. A casual vacancy in the office of an auditor shall be filled by.
✅ Correct Answer: (A)
Board of Directors.
Auditing Corporate Governance MCQs and Notes
Q. is issued when the auditor is completely satisfied that there is nothing objectionable
✅ Correct Answer: (A)
Standard Unqualified Report or Clean Report
Q. Which of the following statement is not correct regarding basic features/ elements/ form of an Audit Report
✅ Correct Answer: (D)
None of these
Q. The liabilities of an auditor can be _________.
✅ Correct Answer: (C)
Civil and Criminal.
Q. The first auditor of a government company shall be appointed within 60 days from the date of registration of the company by.
✅ Correct Answer: (B)
The Comptroller and Auditor General of India
Q. The board of directors shall appoint first auditor of a company ___________.
✅ Correct Answer: (D)
Within one month of incorporation of the company.
Q. Which of the following statement is not correct regarding removal of first auditor before expiry of the term?
✅ Correct Answer: (B)
The approval of the central government is required for such removal.
Q. In case the Board of Directors fails to appoint first auditors, the shareholders shall appoint them at _______ by passing a resolution.
✅ Correct Answer: (A)
Extraordinary general meeting.
Q. Which of the following is not the types of audit report based on the kind of opinion
✅ Correct Answer: (D)
None
Q. The auditor who authorized the issue of misstatements in prospectus can be imprisoned for a term which may extend to
✅ Correct Answer: (D)
10 years