Corporate and Other LawsMCQQuestion 12564 of 300
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Under Section 144 of the Companies Act, 2013, an auditor shall NOT provide which of the following non-audit services directly or indirectly to the company or its holding company or subsidiary?

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option A — Internal audit, accounting and book keeping services, and investment banking services

All Options:

  • AInternal audit, accounting and book keeping services, and investment banking services ✓
  • BIssuing certificates for compliance with statutory returns
  • CTax audit under Section 44AB of the Income-tax Act, 1961
  • DReview of quarterly financial statements under SEBI LODR

Detailed Solution & Explanation

Correct Answer: Option **A** (Internal audit, accounting and book keeping services, and investment banking services) **Statutory Provision (Section 144 - Auditor Not to Render Certain Services):** Section 144 explicitly prohibits statutory auditors from providing: (a) accounting/bookkeeping; (b) internal audit; (c) design of financial information systems; (d) actuarial services; (e) investment advisory; (f) investment banking; (g) outsourced financial services; (h) management services. Therefore, Option A is the correct legal position under the ICAI curriculum.

More Questions from Corporate and Other Laws

Under Section 77(1) of the Companies Act, 2013, within what initial statutory period must a company register a charge created on its property or assets with the Registrar of Companies (ROC)?

Under Rule 3(3) of the Companies (Acceptance of Deposits) Rules, 2014, what is the maximum aggregate limit of deposits that an eligible public company can accept from its members and the public?

Which of the following is a requirement for a company to buy back its securities under the Companies Act, 2013?

What is the tax treatment of buyback of shares by an unlisted company?

Explain the concept of differential rights and its significance in the context of buyback of securities.

What are the legal provisions governing the buyback of securities by a company in India?

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