Audit of Listed Company

Stat Audit 3245 views 10 replies

Hi,

I just wanna know that who is eligible for Audit of company listed on Stock Exchanges.

What is the eligibility critirea.

Thanks

Praveen

Replies (10)

there is no eligibility criteria for a public company.. its the board who decides which firm he wants to appoints.

Thanks for reply  dear,

but recently 1-2 days back i came to know that there are some guidelines etc issued by ICAI etc. that  only those firm can audit a listed company whose audit is done by ICAI etc.

Please search for that this is what i came to know.

Pls reply

Thanks

Praveen

Hai praveen, AsMr.chethan said there were no conditions for being appointed as auditorsfor listed companies. Recently our institute came with the thought that only peer reviewed would be appointed as statutory auditors. We need to check up whether same is mandatory and if so from when.

  Thanks Vrnanda ,

Thats what i came to know. you are requested to please search it out that this is mandatory or not. or guide me from where i can confirm this thing.

Thanks & Best Regards

Praveen

It is applicable with immediate effect for the accounting period starting on or after April 01, 2009. From the abvoe said period, only firms which were issued peer review certificates from the Peer Review Board of the Institute of Chartered Accountants of India, can audit the listed companies.

If a firm was not peer reviewed earlier, it can apply to the peer peer review board to get it peer reviewed in order to become eligible for auditing a listed Co.

Dear All,

Thanks for your kind replies.

Can someone tell me is there any "SARKAARI" notification guidelines rules etc. from where i can cross check this.

Thanks in advance

Praveen

only peer reviwed firms to audit listed companies....

 

https://www.icai.org/news.html?news=2876

 Thanks for link Anuraag

Thanks alot

 

Sir,

Please let me know whether the Suspended Company from ther Stock Exchange is required to be audited by the firm which are peer reviewed? As the shares are not traded in the exchange, can they get audit their accounts by non peer-reviewed firm?

 


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