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CMA Intermediate · Business Laws and Ethics · Operational and Financial Control

Which of the following is included in the services that an auditor appointed under the Companies Act, 2013 must not provide to the company under Section 144?

Investment banking services are expressly listed among the services an auditor cannot render to the company under Section 144. The list also includes investment advisory, actuarial, internal audit, management and outsourced financial services, as well as accounting and book keeping.

  1. ATax representation services approved by the Board
  2. BInvestment banking servicesCorrect
  3. CAttendance at the annual general meeting
  4. DVerification of statutory returns for certification

Explanation

Investment advisory services and investment banking services are both on the list of services barred by Section 144. The other options are not listed as prohibited, so they can be provided if the Board or audit committee approves where applicable.

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