A large proprietary company must have its financial statements audited and lodged with the:
A) Australian Securities Exchange.
B) Australian Securities and Investments Commission.
C) Financial Reporting Council.
D) Australian Accounting Standards Board.

Question

Quizplus · Accepted Answer

A large proprietary company must have its financial statements audited and lodged with the Australian Securities and Investments Commission (ASIC) as per the requirements of the Corporations Act 2001. The ASIC is responsible for regulating companies and financial markets in Australia. The other options given are not relevant to the auditing and lodging of financial statements of a company.

A Large Proprietary Company Must Have Its Financial Statements Audited