Effects of Qualify Audit Report

IT ATTRACTS THE ATTENTION OF USERS...................

No it is not for the attention of the users.

Company need to submit the final audited report to ROC (Statutory matter) Banks (For loans, stock audit), Investors (before AGM), Other bodies (Like CARE ect). This report goes to Tax Auditors, Other statutory tax departments like PF, ESI, P.Tax,  Labour department etc as per requirement and nature of size of the Company. If a audit report will be qualified by auditor then ROC will ask question to Company in one hand and Company will face lots of obstacles from each department mentioned above.

As  u  know  circumstances &  resons  under  which  an  auditor needs  to  qualify  Audit  Report.This  implies  that  there are  certain  deviation,lapses, non-compliance  in the  statutoty  matters, compursory  norms,methods  etc.

Qualifying  these  things will attract attention  of  readers(As Mr. Kashapi has  cited)  towards  thse  for  whom  the  Audit  Report  is  prepared.That's  why  such points  are to be written in Bold and/or  Italics.

I  hope Navin Jain has  no  doubts.