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The IFSCA's annual statement of accounts for a financial year has been prepared. Under the IFSCA Act, 2019, who audits the Authority's accounts, and to whom are the certified accounts with the audit report forwarded annually?

The Authority's accounts are audited by the Comptroller and Auditor-General of India. The certified accounts and audit report are forwarded annually to the Central Government, which causes them to be laid before each House of Parliament, as section 16 of the IFSCA Act, 2019 requires.

  1. AA chartered accountant firm appointed by the Authority; forwarded to the Chairperson only
  2. BThe Comptroller and Auditor-General of India; forwarded to the Central Government, which lays them before each House of ParliamentCorrect
  3. CThe Comptroller and Auditor-General of India; forwarded directly to the Reserve Bank of India and SEBI
  4. DA firm appointed by the Central Government; forwarded to the Selection Committee

Explanation

Section 16 provides that the accounts are audited by the CAG at intervals he specifies, and the certified accounts with the audit report go annually to the Central Government. That Government must cause them to be laid before each House of Parliament. The Authority does not appoint its own auditor.

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