Which test covers unlisted public companies but not private ones?
ALoans above Rs 100 crore
BProfit of Rs 5 crore
CTurnover of Rs 200 crore
DDeposits of Rs 25 crore
Answer & Solution
Correct answer: D. Deposits of Rs 25 crore
Rule 13(1)(c) for private companies has only turnover and loan tests, whereas (b) adds capital and deposits.
Keep practising Internal Audit
Browse all Internal Audit questions for CA Final, or explore more Auditing topics.
Related questions
The second line is separate from delivery but is:Management owns internal control; internal auditors:Strategic planning for internal audit may use which framework?Internal audit's role in enterprise risk management is typically:The Sarbanes-Oxley Act, which raised the profession's profile, dates from:Internal audit scope can include proactive audits to identify:Internal audit is often used as what for future managers?Sawyer urged auditors to focus on which type of auditing?