Question

Provision of accounts, audits is not applicable to OPC.

• A. True
• B. False
• C. Nothing specified in the Act
• D. May be true

Answer 1

The correct option is B False

Irrespective of the paid up capital and turnover of the OPC, a chartered accountant in practice must be appointed as the auditor within 30 days from the date of incorporation as the first auditor of the company. Such person is required to audit the books and accounts of the OPC.