Audits are typically required for:
A)all public companies, large proprietary companies and a limited number of small proprietary companies only.
B)Government departments, statutory authorities, government companies and business undertakings and municipalities.
C) all public companies, large proprietary companies and a limited number of small proprietary companies only AND
Government departments, statutory authorities, government companies and business undertakings and municipalities.
D)none of the given answers.

Question

Quizplus · Accepted Answer

Audits are typically required for all public companies, large proprietary companies, and a limited number of small proprietary companies. They are also required for government departments, statutory authorities, government companies, business undertakings, and municipalities. Therefore, both options A and B are partially correct, but option C provides the most accurate and complete answer. Option D is incorrect as audits are required for certain types of entities as stated in options A, B, and C.

Audits Are Typically Required For