CMA Final · Corporate and Economic Laws · Accounts and Audit
Under the Companies Act, 2013, internal audit of the accounts of a Producer Company must be carried out by whom?
A Producer Company's internal audit must be carried out by a chartered accountant as defined in the Chartered Accountants Act, 1949. The interval and manner of the audit are as specified in the company's articles.
- AA cost accountant in practice
- BA company secretary in practice
- CThe statutory auditor only, at every general meeting
- DA chartered accountant as defined in the Chartered Accountants Act, 1949Correct
Explanation
Section 378ZF requires every Producer Company to have internal audit of its accounts carried out, at the interval and in the manner specified in its articles, by a chartered accountant as defined in the Chartered Accountants Act, 1949. Cost accountants and company secretaries are not named for this purpose.
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