Rotation of auditor sec 139(2)

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20 Points Posted on 14 March 2021
ABC audit firm audited the financial statements of listed company Sharma's Ltd. The audit firm completed the 10 consecutive years.The partner C of ABC firm left his partnership and joined in XYZ firm as partner.
Is XYZ firm is eligible to audit the Sharma's ltd.?



.. What happens if C joined as partner in XYZ during the middle of audit of Sharma's Ltd?
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On 14 March 2021 at 13:08 Report
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Quick Summary
This discussion explores whether XYZ firm can audit Sharma's Ltd. after a partner from the previous auditor, ABC firm, joined them. ABC firm had completed 10 consecutive years of auditing Sharma's Ltd. The key question is whether the partner's move impacts XYZ firm's eligibility due to auditor rotation rules, especially if the partner joined mid-audit.

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Chartered Accountant
24588 Points Posted on 14 March 2021
Yes XYZ is eligible for Audit of Sharma
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On 14 March 2021 at 15:01
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JOB
22 Points Posted on 15 March 2021
No, rotation of auditor applies to all partners also
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On 15 March 2021 at 09:56
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20 Points Posted on 15 March 2021
Can u please elaborate
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On 15 March 2021 at 15:55

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