joint audit implies?
ye mcq question h
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Audit of joint sector companies
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The correct answer is (d) Audit by two firms C.A.
Explanation:
- A joint audit exists as an audit on a legal entity (the auditee) by two or more auditors to create a single audit report, thereby transferring responsibility for the audit. A standard joint audit includes audit planning conducted together and fieldwork assigned to the auditors.
- A practicing Chartered accountant can be a partner in any number of CA companies. Besides, a Chartered Accountant, who does not carry a Certificate of Practice (COP) from ICAI, can be a member of any number of Non-CA partnership firms.
- joint audit indicates Audit by two firms C.A.
Therefore, The correct answer is (d) Audit by two firms C.A.
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