audit of listed comapny

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Sada Abdulkarim Dalvi (Querist)
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21 April 2010 a listed company has apointed xyz & co CA for FY 2009-10. The auditor does not have a peer review certificate so the directors claimed that as per the notification by ICAI the auditor is not qualified for the audit and appointed ABC & Co. as their new Statutory auditor by filling casual vacany. Is the contention of BOD correct?

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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21 April 2010 yes, the restrictions put by ICAI is binding on its member. In the above case, member cannot accept assignment and BOD is right in appointing new auditor.

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