Multiple Choice Questions

Reporting on fraud is to be made by an auditor to the Central Government when the sums involved in t...........

Auditing (APFC) Audit and auditor's report

Reporting on fraud is to be made by an auditor to the Central Government when the sums involved in the fraud:

This questions was previously asked in

EPFO EO AO 2023

exceed Rs 20 lakh

exceed Rs 50 lakh

exceed Rs 75 lakh

are Rs 1 crore or above

- Option 1: exceed Rs 20 lakh

- Reporting is not mandatory to the Central Government for this amount.

- Option 2: exceed Rs 50 lakh

- This is an intermediate amount and does not trigger mandatory reporting.

- Option 3: exceed Rs 75 lakh

- Similar to the previous options, this does not require reporting.

- Option 4: are Rs 1 crore or above

- Fraud involving Rs 1 crore or above must be reported to the Central Government as per the regulations.

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