Fs signed by auditor other than statutory auditor.
1) There is ABC & Associates Auditor of 123 Pvt Ltd and 123 & Co in FY 15-16. (FS in FY 15-16 are signed by ABC & Co)
2) 123 Pvt Ltd and 123 & Co changed the Auditor.
3) The newly appointed auditor (000 & Associates), asked NOC from ABC & Associates, but there was an objection to NOC by ABC & Co.
4) In the FY 16-17 & 17-18 FS are signed by 000 & Co without getting proper NOC from ABC & Co.
5) In ROC data base ABC & Co is an Auditor of the company
6) Now 000 & Co are requesting the NOC from ABC & Co.
By referring the above can you tell the consequences.....
A) Giving NOC now to 000 & Co by ABC & Co.
B) Condition/Liability of 000 & Co.
Can you suggest what decision should be taken in case of both CA Firms & Company.
Thank you :)