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Very Important - Dont use AI, google I want clear explanation not just answer if you give AI google answers I will downvote for sure

Very Important - Dont use AI, google I want clear explanation not just answer if you give AI google answers I will downvote for sureimage text in transcribed

Very Important - Don't use Al, google I want clear explanation not just answer if you give Al google answers I will downvote for sure 1. AJ Private Ltd. is in the business of telecom and have significant operations across India predominantly in Northern India. The statutory auditors of the company have been continuing for the last 3 years and have been issuing clean report. For the financial year ended 31st March 2021, the statutory auditors commenced their work in March 2021 as per discussions with the management and with a plan to complete the audit by first week of May 2021. The audit team concluded the work as per the agreed timelines and the financial statements and audit report were signed on 5th May 2021 along with the engagement letter for the financial year ended 31st March 2021. In the given situation, please advise which of the following would be correct. (a) The engagement letter should have been before commencing the audit work. (b) The engagement letter should have been signed at least a day before signing the audit report. (c) The engagement letter should have been signed at least a day before signing the financial statements. (d) The engagement letter is optional in case of a private company and hence can be signed anytime

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