Question

4. When the audit of Company Accounts was made compulsory in
England?
(A) 1821
(B) 1840
(C) 1844
(D) 1850​

Answer 1

Answer:

I think it is 1821(A).

hopefully it helps you.

Answer 2

Answer:

Landmark dates are: 1844 mandatory financial auditing provisions first appeared.

Explanation:

From the above question,

They have given :

When the audit of Company Accounts was made compulsory in England?

(A) 1821

(B) 1840

(C) 1844

(D) 1850​

Landmark dates are: 1844 mandatory financial auditing provisions first appeared. 1856 the policy decision was taken to make auditing arrangements optional. 1895/96 the London and General Bank and Kingston Cotton Mill Company cases were decided. 1900 auditing provisions were once more made mandatory.

In England, the audit of company accounts became compulsory with the passing of the Companies Act of 1948. The Act required that all limited companies, regardless of size, must have their accounts audited by a qualified auditor and submitted to Companies House annually. The purpose of the audit was to ensure that companies provided accurate and reliable financial information to their shareholders, creditors, and the general public, and to help prevent financial fraud and mismanagement.

Since the passing of the Companies Act, the audit requirements for limited companies in England have been updated and revised several times, but the basic principle of requiring an independent audit of company accounts remains in place. The audit is an important tool for promoting transparency and accountability in the financial reporting of companies and for protecting the interests of stakeholders.

For more such related questions : https://brainly.in/question/12023990

#SPJ3