Under Section 143(3)(i), the auditor reports on internal financial controls (IFC) - for which class of companies?
AListed companies only
BListed and public companies only
CListed companies and certain other prescribed companies (per Rule 11 / exemption notifications)
DAll companies
Answer & Solution
Correct answer: D. All companies
1. Section 143(3)(i) read with Rules and MCA notifications exempts certain private/small companies.
2. Listed companies and other prescribed companies must report on IFC.
3. OPCs, small companies and certain private companies are exempt.
_Source: ICAI BoS CA Final Paper 3, Ch 5 "Company Audit"_
Related questions
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