Audit objection

Stat Audit 729 views 3 replies

SUBUS

Director

24 Points Joined January 2015

Dear Sir,

For the statutory audit of a firm we have appoint a new auditor and while communication with the previous auditor he gave objection on the ground that we have not paid the full audit fee. The reason for not paying the audit fee is that the auditor didnot give the Schedules for the audited statements from the PYs 2011, 2012 and 2013. What we have to do for the case. Please answer as early as possible.

Replies (3)

Bhoomika Bansal

Article Trainee

30 Points Joined January 2015

Dear Sir,

Can Statutory auditor certify document regarding completion of construction work, in case it is already certified by the civil engineer.

Bhoomika Bansal

Article Trainee

30 Points Joined January 2015

C.A. P. HAREESH KUMAR

PRACTICE

375 Points Joined July 2008

Audit Objection- This should have been captioned as "N .O.C " as understood commonly

Onus is on the new Auditor to communicate with the previous Auditor . Else it would be misconduct on his part . It is in no way to prevent the change . It would be open for the new incumbent to decide it either way after communicating with the previous auditor

Non payment of fees , qualified opinion etc are good reasons for the new auditor to refuse to accept the new office .In a way it is to protect his interest as well .

As far as clients are concerned changing the auditor according to whims and fancies is not considered as a good practice and will affect the rating.

Getting all the schedules to the accounts from the Auditor should not be a problem for any one

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Audit objection

SUBUS

Bhoomika Bansal

Bhoomika Bansal

C.A. P. HAREESH KUMAR

Audit Objection- This should have been captioned as "N .O.C " as understood commonly

Onus is on the new Auditor to communicate with the previous Auditor . Else it would be misconduct on his part . It is in no way to prevent the change . It would be open for the new incumbent to decide it either way after communicating with the previous auditor

Non payment of fees , qualified opinion etc are good reasons for the new auditor to refuse to accept the new office .In a way it is to protect his interest as well .

As far as clients are concerned changing the auditor according to whims and fancies is not considered as a good practice and will affect the rating.

Getting all the schedules to the accounts from the Auditor should not be a problem for any one

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Audit objection

Audit Objection- This should have been captioned as "N .O.C " as understood commonly

Onus is on the new Auditor to communicate with the previous Auditor . Else it would be misconduct on his part . It is in no way to prevent the change . It would be open for the new incumbent to decide it either way after communicating with the previous auditor

Non payment of fees , qualified opinion etc are good reasons for the new auditor to refuse to accept the new office .In a way it is to protect his interest as well .

As far as clients are concerned changing the auditor according to whims and fancies is not considered as a good practice and will affect the rating.

Getting all the schedules to the accounts from the Auditor should not be a problem for any one

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