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    Question

    According to the stipulations for reporting fraud, when is the Statutory Auditor required to forward a report to the Secretary, Ministry of Corporate Affairs, Government of India?

    A One lakh rupee or more Correct Answer Incorrect Answer
    B Ten lakhs rupee or more Correct Answer Incorrect Answer
    C Fifty lakhs rupee or more Correct Answer Incorrect Answer
    D One crore rupee or more Correct Answer Incorrect Answer
    E Five crores rupee or more Correct Answer Incorrect Answer

    Solution

    The Statutory Auditor forwards a report to the Secretary, Ministry of Corporate Affairs, Government of India, in the case of reporting fraud involving or expected to involve individually an amount of one crore rupees or more, if no reply or observations are received from the Board/Audit Committee within 45 days.

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