There are some auditors who not intentionally but due to gross nigligence, carry out statutory audit of a company under Companies Act. Such disqualification is apparent from fact e.g.,that the Balance Sheet of the Company audited by the audit firm shows dues from that audit firm eceeding Rs. 1000/-.
What is the responsibility of ROC who receives these returns, for suo moto action? What if somebody points out such insidenceto ROC in writing? what action lies against Company for appointing disqualified firm as auditors, and what action lies against the audit firm?
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