Responsibility of audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2011
whether only signing partner would be liable or all partners would be equally liable, in case of death of signing partner, financial statement found misappropriated then others partners would be liable or not.....?
31 January 2011
All the partners are equally responsible.
.
However; more responsbilities are born by the person who signs the Audit Report.
.
Whenever such cases are found; then the case is lodged in the name of the firm and not in the name of individual partner.
All the partners are equally responsible.
.
However; more responsbilities are born by the person who signs the Audit Report.
.
Whenever such cases are found; then the case is lodged in the name of the firm and not in the name of individual partner.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- Dep. as per companies act
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- Change Of Karta In Case of Death
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
