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Important Announcement of ICAI regarding signing of Audit Reports
As members may be aware that recently, the ICAI has made an announcement regarding certain procedure to be followed while signing audit reports. This announcement affects all audit reports that would be signed by a Chartered Accountants on or after 1st April, 2010. Since the matter is very important and affects any auditor, we would like to draw your attention to the same.
Therefore, the said announcement of the ICAI is reproduced below:
Announcement
The Council of the Institute of Chartered Accountants of India (ICAI), at its 292nd meeting held on January 13, 2010 has decided to require the members of the Institute of Chartered Accountants of India to:
- Include, in addition to the other requirements relating to signature on the audit report, as prescribed under the relevant Standard on Auditing, the registration number of the firm as allotted by ICAI, in the audit reports signed by them; and
- Ensure that the resolution passed by the company regarding appointment of the statutory auditor of the company under section 224 of the Companies Act, 1956, also contain the registration number of the firm of the auditor(s) with the ICAI.
- These requirements would come into effect from April 1,2010.
The above announcement was published in “The Chartered Accountant” in the February, 2010 Issue at Page 1312.
Any person signing an audit report on or after 1st April, 2010 should take into account the above requirements.
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