Pre-occupation means being already engaged or busy with other professional commitments, leaving insufficient time to take up or continue a new assignment. In audit context, it indicates the auditor is unable to accept reappointment due to existing workload or prior engagements.
07 September 2012
Respected Members', I had gone through an audit report of A listed Limited company, there stated that their auditor conveyed their inability to seek reappointment as statutory auditors of the company due to pre-occupation. I want to what is the meaning of pre-occupation? Please suggest
07 September 2012
Means the auditor is busy with other assignements and hence cannot give the due time to this assignment of audit and hence busy with pre - occupation.