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Failure By auditor to furnish information

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 There is a company which has not complied with regulations on related parties transactions.the auditor is aware of this and it has also been pointed out by a shareholder to the auditor. the Auditor now refuses to answer  to the shareholder stating that they cannot reply without the consent of the company. What is the remedy??

Replies (1)

hi !

You can file a Complaint with ICAI against the Auditor for Professional Misconduct under the following clauses :-

1) Failure to disclose a material fact known to the Auditors which is not disclosed in the Financial Statements ( Clause (5) of Part I of the Second Schedule);

2) Not exercising due diligence or being grossly neligent in the conduct of his professional duties. ( Clause (7) of Part I of The Second Schedule)

Thanks,

Vinod 


CCI Pro

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