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Business Studies

Audit of Government Company is done by C & AG. This statement is ______________.

A
True
B
False
C
Partly True
D
Partly False
Answer & Solution

True


SOLUTION
Auditor of all types of companies, except a Government Company, shall be appointed by the Board of Directors within 30 days from the date of registration of the Company. Tenure: First Auditor appointed by Board shall hold office till the conclusion of the first annual general meeting of the Company.
The Comptroller and Auditor General (CAG) of India is an authority, established by Article 148 of the Constitution of India, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government.
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