alleryStart learning →Under the Indian rules, a public company needs an Audit Committee if its paid-up capital is at least:
ARs 1 crore
BRs 10 crore
CRs 50 crore
DRs 100 crore
Answer & Solution
Correct answer: B. Rs 10 crore
A public company with paid-up capital of Rs 10 crore or more must constitute the committee.
Keep practising Audit Committee
Browse all Audit Committee questions for CA Final, or explore more Auditing topics.
Related questions
How often should audit committees complete a self-evaluation?Which 2002 US law raised audit committee membership requirements after corporate scandals?In what year did the SEC first recommend audit committees of outside directors for public Which matter must external auditors report to the audit committee?Where are an audit committee's duties typically described?Which is a typical audit committee responsibility?Under the Indian rules, loans, borrowings, debentures and deposits of what amount trigger Which function is overseen by an audit committee?