New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    What duty is imposed on an auditor of a credit

    information company according to the Credit Information Companies (Regulation) Act
    A To inquire whether the credit information company has paid taxes Correct Answer Incorrect Answer
    B To verify the accuracy of financial statements Correct Answer Incorrect Answer
    C To ensure compliance with environmental regulations Correct Answer Incorrect Answer
    D To conduct internal audits of the credit information company Correct Answer Incorrect Answer
    E To inquire whether the credit information company has furnished required statements, information, or particulars to the Reserve Bank and report to the Reserve Bank if not satisfied Correct Answer Incorrect Answer

    Solution

    Section  13. Powers and duties of auditors.—(1) It shall be the duty of an auditor of a credit information company to inquire whether or not the credit information company has furnished to the Reserve Bank such statements, information or particulars relating to its business as are required to be furnished under this Act and the auditor shall, except where he is satisfied on such inquiry that the credit information company has furnished such a statement , information or particulars, make a report to the Reserve Bank in this regard.

    Practice Next