Audit objection

Stat Audit 612 views 3 replies
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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.

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On 16 January 2015 at 13:29 Report
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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. 

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On 16 January 2015 at 16:08
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Article Trainee
30 Points Joined January 2015

 

 

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On 16 January 2015 at 16:32
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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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On 18 January 2015 at 11:15


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