n NISM Certifications
V-A NISM Series V-A
Medium

The auditor appointed to audit the scheme accounts is the same as the auditor of the AMC accounts - State True or False?

Practice question from Nism VA Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    True

  2. False

    Correct answer

Why this is the answer

The auditor for the scheme accounts must be different from the auditor of the AMC (Asset Management Company). The scheme auditor is appointed by the Trustees, while the AMC auditor is appointed by the AMC.

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