Audit of a branch
Querist : Anonymous
Where a company, whether a public or a private limited, has a branch office, its accounts should also be audited. The audit of the accounts of branch office can be done either by:
(i) the company’s auditor; or
(ii) by any other person who is qualified to act as the company’s auditor
However, if the branch is situated in a country outside India, a person who is duly qualified to act as auditor of the branch in accordance with the laws of that country, can also be appointed as auditor of branch.
If the branch is not being audited by the company’s auditor, he is then also entitled to visit the branch office if he considers it necessary to do so for the performance of his duties as the auditor. He has also a right of access at all times to books, accounts and vouchers of the company maintained at branch office.
There are separate rules, laws governing the bank branch audit.
Querist : Anonymous
Querist : Anonymous
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