PRAKASH MATUPALLI asked 3 years ago
SIR
IN SA 260 ABOUT COMMUNICATION TO TCWG THE ANSWER WHICH YOU HAVE GIVEN IS ABSOLUTELY CORRECT BUT SIMILAR QUESTION HAS BEEN ASKED IN NOVEMBER 2020 OLD COURSE CYCLE 2 THE QUESTION STARTS WITH (MR BK ,PARTNER IN BK AND ASSOCIATES) THE SUGGESTED ANSWER GIVEN FOR THIS BK AND ASSOCIATES QUESTION IN NOVEMBER 2020 EXAMS IS DIFFERENT SIR(ie THE ANSWER WHICH IS GIVEN IN PARAM IS NOT MATCHING WITH SUGGESTED ANSWER OF ICAI ) ….. WHAT WE CAN DO NOW SIR IN THIS SITUATION ??? KINDLY PLEASE ADVICE SIR ???
Ravi Staff answered 3 years ago
Hello Prakash,
Yes, it is Inappropriate classification from our side.
This particular question is not of SA 260 it is of Corporate Governance and it should be answered as per SEBI LODR only and they have explained that Audit Committee has to mandatorily review many things and problem faced by the Audit Team Members is one of that.
So, i will say that we should follow answer given by in ICAI. But yes this was a very close situation.
SORRY ITS NOT CYCLE 2 ITS CYCLE ie NOVEMBER 2020 OLD COURSE
THE ANSWER GIVEN IS AS PER SEBI LODR REGULATIONS ……IS IT ADVISABLE TO WRITE THIS ANSWER AS PER SA 260 ??? DO WE GET MARKS IF WE DO SO ???KINDLY PLEASE ANSWER THIS QUERY SIR ??? THANKS AND REGARDS .