Question

According to Sec 64 (7) of KCS Act, Audit fee or cost must be paid within --- from date of intimation.

• A. 30days
• B. 15 days
• C. 60 days
• D. 45 days

Answer 1

Answer:

A. 30days

• Sec 64 (4B) :Receipt of audit report - DCA issue audit certificate with audit memorandum within 45 days

• Sec 64 (5) : auditor or team of auditor complete audit within 90 days from the date of getting audit statement from MC and submit report to DCA (30 days)

• Sec 64 (5A) Amend : on completion of audit and before Submission of audit report to DCA, Auditor shall discus audit findings with the MC and get reply in writing. 

• Sec 64 (6) - Audit fee or Audit cost fixed by DCA (calculate auditor) (Rule 65) 

• Sec 64 (7) : Audit fee or cost paid within 30days from date of intimation