Which additional engagement is outside section 144’s list of prohibited services for a company’s statutory auditor, subject to applicable approval and independence requirements?
Question and options
Which additional engagement is outside section 144’s list of prohibited services for a company’s statutory auditor, subject to applicable approval and independence requirements?
Internal audit
Accounting and bookkeeping
Tax audit
Investment advisory services
Answer and explanation
Section 144 of the Companies Act, 2013 bars the auditor from providing accounting and bookkeeping, internal audit, investment advisory and banking, management and certain other services to the company and its holding or subsidiary companies. Tax audit is not in that list, so the auditor may undertake it if the board or audit committee approves.
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