alleryStart learning →A holding company's auditor can access subsidiary records relating to
ATheir staff payroll
BTheir tax assessments
CConsolidation of accounts
DTheir board minutes
Answer & Solution
Correct answer: C. Consolidation of accounts
The proviso to Section 143(1) limits subsidiary and associate record access to what relates to consolidation of financial statements.
Keep practising Audit Documentation
Browse all Audit Documentation questions for CA Inter, or explore more Auditing topics.
Related questions
Who should be allowed to stop or alter an audit trail process?An accounting audit trail links detailed transactions toInternal evidence becomes more reliable when internal controls areAs misstatement risk rises, the evidence an auditor should collectA direct reply from an outside party about an assertion is aRe-adding totals to test arithmetic accuracy is calledAudit evidence gathered by auditors is recorded in the auditThe auditor must comment on transactions with an adverse effect on