08 June 2010
The incoming auditor can accept a work for lesser fee compared to earlier auditor. But you have to communicate to him and get no objection for taking up the audit.
08 June 2010
Is the provisin applicable even to consultancy work relating to income tax, project reports etc. which are performed not in the capacity of an auditor?
08 June 2010
Clause (12) of Part I of First Schedule pertained to undercutting of fees. Quite intriguingly, this has been omitted. Basic intention was to remove rigidity in this regard, since situations do change.
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