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📚 Learn › Paper 5 — Auditing & Ethics › Chapter

Company Audit (Companies Act 2013, ss 138–148)

Companies Act 2013 sections 138–148 — internal audit, appointment, removal, qualifications/disqualifications, powers and duties of auditors, auditor's report, prohibited services, branch audit and cost audit. Expect 12–14 marks.

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5 microlessons in this chapter
Read each in 5 minutes. Each has worked examples + the bare Act text for reference.
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All lessons

1
Section 139 — Appointment of Auditors
Section 139 Companies Act 2013 explained: auditor appointment terms, mandatory rotation for listed companies, first auditor rules & CAG role
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2
Section 140 — Removal, Resignation of Auditor
Section 140 Companies Act 2013 explained: removal needs special resolution + CG approval; resignation requires filing within 30 days or face
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3
Section 143 — Powers and Duties of Auditors and Auditing Standards
Section 143 Companies Act 2013: auditor's powers of access, audit report duties, CAG supplementary audit (60 days), branch audit rules — exp
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4
Section 144 — Auditor Not to Render Certain Services
Section 144 Companies Act 2013: Services auditors cannot provide to their audit clients — the complete prohibited list with examples for CA
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5
Section 146 — Auditors to Attend General Meeting
Section 146 Companies Act 2013: auditor's right to attend general meetings, send a qualified representative, and be heard — key CA Inter exa
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