English, asked by chandanijoge123456, 6 months ago

49. Which of the following sections deals with qualification of the auditor?
IA] Section 226(1) and Section 226(2).
[B] Section 224(1) and Section 224(2).
[C] Section 226(3) and Section 226(4).
[DJ Section 224(3) and Section 224(4)

Answers

Answered by lalitnit
0

Qualification of a Company Auditor:

According to Section 226(1) and 226(2) of the Companies Act, the prescribed qualifications of an auditor are as follows:

Qualification [sec226 (1)]:

1. The auditor of a co. may be either, an individual or a firm

2. In the case of an individual, he should be a Chartered Accountant within the meaning of Chartered Accountants Act 1949 i.e. he should be holding certificate of practice.

3. In the case of firm of auditor’s all the partners of a firm shall be chartered accountants practicing in India within chartered accountants Act1949.

Qualification [Sec 226(2)]:

A person holding a certificate issued by central govt. under restricted state auditors rules prior to the enactment of part B state laws 1951 can also be auditor of the co.

The central government in empowered to frame rules relating to granting renewals, suspension or cancellation of such certificates.

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