Which section says auditor should sign financial statements

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prachi gupta (Querist)
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28 November 2014 Section 145 says auditor should sign audit report, Section 134 says directors etc should sign financial statements, why auditors sign financial statements is it given under any section or it is a custom

Amol S Joglekar

Amol S Joglekar (Expert)
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28 November 2014 IT is a custom followed for long, mainly because the audit report contains a statement that
I/We have audited/examined the attached Balance Sheet, Profit & Loss Account.......
In token, the auditor signs the "ATTACHED" Balance Sheet , Profit & Loss Account.
If you carefully observe the OLD timers in the profession, they will not sign the financials UNLESS signed by the Directors.

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prachi gupta

prachi gupta (Querist)
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28 November 2014 Thankyou sir, for such a good guidance

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Amol S Joglekar

Amol S Joglekar (Expert)
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28 November 2014 You are always welcome.
.

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