Branch Audit
This query is : Resolved
06 May 2010
Can an employee of the company be appointed as branch auditor?
Rahul Gupta
(Expert)
06 May 2010
In case of Internal Auditor it is possible. But not for statutory Audit.
06 May 2010
please tell me ki agar exemption grounds hai to it states that the company has made arrangements for the audit of the accounts of the branch
office by a person otherwise qualified for appointment as branch auditors, even though such
a person is an employee of the company;
office by a person otherwise qualified for appointment as branch auditors, even though such
a person is an employee of the company;
Rahul Gupta
(Expert)
06 May 2010
The exemption is grounded to the branch from the audit because of the arrangement made by the branch, but however for statutory purpose, the main auditor is responsible for giving and signing statutory report , who can never be an employee of the company.
It can be taken in a way, that the branch has made arrangements for internal audit and the statutory auditor relies on its report, but the ultimate liability remains with the statutory auditor.
It can be taken in a way, that the branch has made arrangements for internal audit and the statutory auditor relies on its report, but the ultimate liability remains with the statutory auditor.
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CMA Arif Farooqui
(Expert)
12 May 2010
agreed with Rahul
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