responsibilties of auditor

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nipunn (Querist)
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30 July 2010 pls tell me wts will be the responsibilities of an auditor/CA (External) while auditing the books of pvt.ltd.co., mean what things they expect from an auditor

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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01 August 2010 They expect to get a report from the auditor about true and fairness of the accounting statements.

If the auditor conducts the audit negligently then disciplinary action is taken against him by the ICAI.

In foreign countries; auditors are also liable to compensate the persons who have acted on the basis of auditors' report.

Soon; in India also; these provisions may be introduced.

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