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Statutory Audit

This query is : Resolved 
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(Querist)
05 October 2010 Dear all,

we are the auditor of pvt. ltd co. from the last 2 years they have not audited their accounts,we have approch them but books are not ready, they have also not file Annual return..

Now wt as a auditor we have to do??? any liability arise on our part ?? Thanks..
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
05 October 2010 Since when you are appointed as the auditors?

If you have accepted the appointment, then you should have issued a disclaimer of opinion in your audit report as audit could not be conducted by you.

Auditor is not liable if the company does not file Annual return.
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Abhay Gujarathi

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Abhay Gujarathi (Querist)
05 October 2010 thanks Mr. Suraj...


3 years back..and we are continued as Auditor of the company sine then. and wt kind of liability arise if we fails to give the same???
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Ajay Mishra

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Ajay Mishra (Expert)
06 October 2010 Hi


As a good Corporate practice,you should sing only the current account audited by you and should sign on behalf of the company.



Regards
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