The compliance report submitted by the society stating the action taken on the objections raised by the auditor is called the: (a) audit memorandum; (b) annual return; (c) rectification report; (d) inside address.

Question

Accepted Answer

This objective question tests the correct term for the report the society submits after an audit, stating the action it has taken on the auditor's objections. The correct answer is option (c), the rectification report.

After an audit, the auditor issues an audit report, usually with an audit memorandum that lists the objections, remarks, and defects found. The society is expected to remove those defects, and the secretary drafts and submits a report stating what action has been taken on each objection — this is the rectification report, also called the compliance report. That is precisely what the question describes, so option (c) is correct. …

Q.The compliance report submitted by the society stating the action taken on the objections raised by the auditor is called the:

Concept understanding — Correspondence with External Parties — Registrar, Banks and Auditors

Q.The compliance report submitted by the society stating the action taken on the objections raised by the auditor is called the:

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