Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Provisions of company audit...

13 October 2018

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.....

Reply
Follow
Share

4 Replies

(Guest)

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

Kaustubh Nimkar (24 Points)
Replied 13 October 2018

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.