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Doing justice as an auditor

Prakash (Proprietor) (25 Points)

06 April 2014

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2 Replies

Vivek Khakhkhar (Assistant Audit Manager) (201 Points)
Replied 06 April 2014

Dear your question is general. You should specify whether its public company or private company. Auditor reports to Board of Directors, so whatever work carried in company auditor checks for internal control, accountability & responsibility, checks for fraud. Every company wants to scrutinise their accounts & processes. its not like auditor would protect his own interest only. It is totally wrong interpretation. Being auditor if you dont give value addition in your work its useless.

CA Saroj Kumar (Keen to learn something new every moment) (2588 Points)
Replied 06 April 2014

if a auditor perform audit function in a public company they right to representations in agm..if a company remove auditor at his own company needs to explain the reason of removal to govt. as well in agm ..so auditor is no need to protect his own... nd more importantly that we work as independent we dont have any problm to resigne at any point of time. so irrespective of power of company ....auditor is always safe...just requires to perform his function professionally ..dont feel enough protection has been given by company act and icai.