Auditor of consolidated financial statement.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 Do we have to make different appointment of auditor for audit of consolidated financial statement if the same auditor has been appointed to audit standalone financial statement of Parent Company??

Kumar

Kumar (Expert)
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26 November 2015 separate appointment is not required. But the audit committee or the board has to approve the fees for audit of cfs. Auditor may issue a revised engagement letter in suppression of the existing engagement letter covering the aspect of consolidation FS.

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Kumar

Kumar (Expert)
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26 November 2015 No separate appointment is required because the auditor was appointed to audit FS. FS includes CFS wherever applicable.

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