Q431
Which of the following statements with regard to rules regarding exemption from branch audit is not true?
A.
A branch office of a company can be granted exemption on the basis of quantum of activity criterion
B.
If a satisfactory arrangement of scrutiny check of the books of account of a branch office of a manufacturing company has been made, it can be exempted from branch audit
AnswerC.
Cost consideration should be considered as an important factor/ground for exemption from branch audit
D.
The auditor should state in his audit report that branch office is exempted by virtue of quantum of activity or any other basis
Answer: Option B
Solution
Answer: Option B
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