alleryStart learning →An auditor convicted under Section 147(2) is liable to do what?
ASurrender his membership
BRefund fee and pay damages
CPay only a double fine
DServe a mandatory prison term
Answer & Solution
Correct answer: B. Refund fee and pay damages
Section 147(3) makes a convicted auditor refund his remuneration and compensate for loss caused by misleading statements.
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