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No objection by previuos auditor

Statutory Audit 889 views 3 replies

VAIBHAV SACHDEVA

STUDENT

75 Points Posted on 17 September 2014

Is it compulsory to obtain no objection letter by previos auditor while starting a new stat. audit.If yes,then under what guidelines...

Replies (3)

Swapnil Jain

Finance - FP&A

564 Points Posted on 17 September 2014

yes... please refer clause 8 of part I of First schedule to the CA Act, 1949.

Himanshu Agarwal

Student CA Final

244 Points Posted on 18 September 2014

Agreed with swapnil... it is a mandate to obtain NOC.

Basavaraj

Associate

147 Points Posted on 21 September 2014

Statutory auditor needs to obtain noc from previous auditor it is compulsory before starting of audit otherwise it's considered as professional misconduct under ca act 1949

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