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Audit fee in advance

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 February 2012 Can an audit firm raise a bill for Statutory audit of a company & take the audit fee in advance i.e before completion of Financial Year?
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
29 February 2012 I would be of the view that the same will be wrong in the manner that since the professional services are not even rendered by the firm.. it would be wrong..
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
29 February 2012 It is perfectly possible. Depends on the
agreemnent between the client and the CA.

There is no prohibition on accepting audit fees in advance.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
29 February 2012 I Agreed with the Siddhartha Bhardwaj.
OM SAI SRI SAI JAI JAI SAI
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