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Provisions of company audit...

130 views 4 replies

Kaustubh Nimkar

24 Points Joined September 2017

what if the staff of company auditor is indebeted to the company exceeding rs 500000.....whether the auditor is disqualified for appointment.....? if yes on what basis...?? the staff is neither a reletive nor a partner.....

Replies (4)

Guest

Not disqualified, if the staff is neither relative nor partner.

Kaustubh Nimkar

24 Points Joined September 2017

but that staff may involve in the audit procedure.....so there is a possibility that will it compramise the basic principels of audit...

Guest

That's auditor's duty to do it independently as per auditing standards. He needs to sign the report not the staff. As a auditor, would you allocate your staff who is indebted like this situation. No.