While auditing the financial statements of Triveni Manufacturing Ltd. for the year ended 31/03/2026, the auditor observed that the company had…
CA Intermediate · Auditing and Ethics · PYQS · May 2026
While auditing the financial statements of Triveni Manufacturing Ltd. for the year ended 31/03/2026, the auditor observed that the company had certain transactions with MNO Trading Pvt. Ltd. During the audit, it was noted that MNO Trading Pvt. Ltd. had been struck off by the Registrar of Companies (ROC) under Sec 248 of the Companies Act, 2013. The transactions between Triveni Manufacturing Ltd. & MNO Trading Pvt. Ltd. included:Purchases of IT hardware during the year amounted to 18.50 lakh.As at 31 March 2026,4.20 lakh remained outstanding and payable.One of the directors of Triveni Manufacturing Ltd. held 15% equity in MNO Trading Pvt. Ltd.Which of the following details are required to be disclosed in the financial statements of Triveni Manufacturing Ltd.?
Suggested Answer and Working Notes:
Correct Answer: Option (D)
(D) I, II, III and V
Topics: Audit of Items of Financial Statements
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