Question
Dishonest Limited, a company incorporated in India has six members on its Audit Committee. Due to recessionary conditions in India, the revenue of the company
Dishonest Limited, a company incorporated in India has six members on its Audit Committee. Due to recessionary conditions in India, the revenue of the company is going down & there is a slowdown in other activities of the company. Therefore, it was expected that there would not be significant work for members of the Audit Committee. Considering the overall recession in the company & the economy, the members of the Committee decided unanimously to meet once a year only on March 31, 2020. They reviewed the monthly information system of the Company & found no errors. As an auditor of Dishonest Limited would you consider the decision taken by the Audit Committee to be in line with the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015?
Step by Step Solution
3.56 Rating (153 Votes )
There are 3 Steps involved in it
Step: 1
The detailed answer for the above question is provided below One of the following additional require...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started