I would like to know whther a new Audior can audit the accounts if the AGM is adjourned. For eg if AGM of 30/9/2012 does not adopt the accounts and if a new auditor is appointed then whther the new auditor can audit the accounts of 2011-12
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no sir new auditor can not audit the accounts of company for f.y. 2011-12 . however the new auditor is eligible to audit the accounts of company the year 2012-13.
Auditor retires at the ensuing AGM... hence the new auditor appointment takes place in the AGM held...and he can continue for the financial year 2012-13.....
Adoption of accounts does not have any relation with the audit.... if the accounts of 2011-12 are audited...its upto AGM to decised wheather to adopt or not...
so new auditor appointed cannot take up the old fy 2011-12 if already audited accounts are available...
the question is if the accounts are not audited for 2011-12 then whthr the new auditor can audit the accounts of 2011-12?
yes new auditor can audit the books of accounts
but the CA institute has given a different opinion .. in one of the expert opinion compendium
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