Question

Which of the following is not mentioned in Audit Report?

• A. Whether HR practices are going right or wrong
• B. Whether any Director is disqualified from appointment
• C. Whether Balance Sheet gives true fair view
• D. Whether he has obtained all the information and explanation required by him for the purpose of audit

Answer 1

Answer: (A)

Whether HR practices are going right or wrong

The report so submitted shall contain the following:
(a) Whether, in his opinion, the Profit and Loss Account referred to in his report exhibits a true and fair view of the profit or loss.
(b) Whether, in his opinion, the Balance Sheet referred to in his report is properly drawn up so as to exhibit a true and fair view of the state of affairs of the business as shown by the books of accounts.
(c) Whether he has obtained all the information and explanations which to the best of his knowledge and belief were necessary for the purpose of his audit.
(d) Whether, in his opinion, proper books of accounts as required by law have been kept by the company
(e) whether Profit and Loss Account and Balance Sheet comply with the accounting standards
(f) auditors have given adverse remarks if any either in bold or italics type
(g) whether any director is disqualified from being appointed as director under section $164\left(2\right)$
(h) Whether the company's Balance Sheet and Profit and Loss Account dealt with by the report are in agreement with the books of accounts and returns.