So guys!! Here’s the MCQ for the day- Sista and Chartered Accountants were already appointed for sto

So guys!!

Here’s the MCQ for the day-

Sista and Chartered Accountants were already appointed for stock audit by the audit committee
for the five branches, so whether Sista and Chartered Accountants are authorised to accept the
appointment as statutory auditors for the same branches?.

a)Sista and Chartered Accountants cannot accept the appointment as it was not offered by the
audit committee and Bank’s management is not authorized to appoint the auditors.

B) Sista and Chartered Accountants can accept the appointment as they were already appointed
for the stock audit of those branches by the audit committee.

C) Sista and Chartered Accountants can accept the appointment as they have been appointed
statutory auditors for the same five branches for which they were conducting stock audit.

D)Sista and Chartered Accountants cannot accept the appointment as the audit firms should not
undertake statutory audit assignment while they are associated with internal assignments in
the Bank during the same year.