Company Law Quiz

What is the primary role of an auditor?

• To prepare financial statements

• To manage company meetings

• To independently examine financial statements

• To advise the board on legal matters

What is the minimum notice period for an AGM of a public company as per CA 2016?

• 7 days

• 30 days

• 21 days

• 14 days

Who may be appointed as an auditor of a company?

• Any individual with accounting experience

• An approved company auditor

• A company director

• A shareholder of the company

What is a key duty of a company secretary?

• Conducting audits

• Maintaining company records

• Preparing financial statements

• Managing shareholder disputes

What is the consequence of an auditor breaching their duty of care?

• They will be disqualified from auditing

• They may be promoted

• They may be liable for damages to the company

• They will receive a warning

What is the role of the Audit Committee as per MCCG?

• To prepare financial statements

• To ensure internal audit is effective and independent

• To oversee financial reporting

• To manage company meetings

What must an auditor do if they find unsatisfactory results during an audit?

• Ignore the findings

• Conduct a full audit

• Report to the shareholders

• Resign immediately

What is the maximum duration an auditor's approval is valid for?

• 2 years

• 1 year

• 3 years

• 5 years

Which of the following is NOT a type of company meeting?

• Financial Review Meeting

• Statutory Meeting

• Extraordinary General Meeting (EGM)

• Annual General Meeting (AGM)

What is the primary responsibility of the company secretary?

• To manage company finances

• To represent the company in legal matters

• To ensure compliance with statutory requirements

• To conduct audits