Question

10) Working papers which contain a record of the audit works are the property
of the
a) Company b) Auditor c) Registrar of companies d) Government of India
​

Answer 1

Answer:

registers of companies

Answer 2

b) Auditor

• Audit engagement documents are the property of the auditor.
• In the interests of professional integrity, disclosure of information to third parties without the consent of the client is not allowed, except for the limited number of special circumstances specified in the SA 230 documentation and required by law (for example, court orders, public interest, etc.)

Explanation for incorrect:

• a) Company:A company is a legal entity created by a group of individuals to participate in and manage commercial and industrial enterprises.
• The Company may be managed in other ways with respect to tax and financial liabilities in accordance with the company laws of that jurisdiction.

c) Registrar of companies :The Commercial Register maintains a list of registered companies and provides public access to this information in exchange for the payment of a fee.

• The Central Government, with the support of the Regional Directors, exercises administrative control over the Commercial Register.

d)Government of India:India is a sovereign socialist secular democratic republic with a parliamentary government with a single functioning federal structure.

• There is a Council of Ministers, chaired by the Prime Minister, which advises the President, the constitutional head of the country.

#SPJ2