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Examples of NPO

An auditor fi...

Question

An auditor finds some fraud while auditing. He must report it to ________.

A

MCA

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B

AGM

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C

both a and b

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D

none

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Solution

The correct option is D both a and b
The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements recognises that misstatement in the financial statements can arise from either fraud or error. If he finds any fraud in the financial statements, he is bound to report the same to the Ministry of Corporate Affairs and at the Annual General Meeting.

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