Rotation of auditor
This query is : Resolved
subrat ojha
(Querist)
07 January 2015
if Mr. a has audited a company for 5 consecutive year in his individual capacity.. now after 1 year of completion of 5 concecutive years.. Mr A becomes partner in ABC firm... can ABC firm get audit of that company. ..
CA R SEETHARAMAN
(Expert)
07 January 2015
ABC firm is not eligible to get audit of the company.
CS Mitesh Mehta
(Expert)
07 January 2015
the incoming auditor or audit firm shall not be eligible if such auditor or audit firm is associated with the outgoing auditor or audit firm under the same network of audit firms.
if a partner, who is in charge of an audit firm and also certifies the financial statements of the company, retires
from the said firm and joins another firm of chartered accountants, such other firm shall also be ineligible to be
appointed for a period of five years.
the aforesaid rule apply in case of rotation of auditor
if a partner, who is in charge of an audit firm and also certifies the financial statements of the company, retires
from the said firm and joins another firm of chartered accountants, such other firm shall also be ineligible to be
appointed for a period of five years.
the aforesaid rule apply in case of rotation of auditor
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
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
