07 June 2010
please tell me about whethter the incoming auditor can accept appointment if the previous year audit report was qualified. In the same case wheather the retiring auditor can take objection in case of qualified audit report issued by him in previous year at the time of intimation of appointment.
07 June 2010
My view is that the incoming auditor can accept the appointment. There is nothing to be related with the type of report issued. However, the incoming auditor must communicate with the previous auditor and should understand the reason and facts of the qualified report. Also, retiring auditor cannot object the appointment of new auditor , in case it is otherwise valid.
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