Audit under companies act of last 6 years

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2014 Respected Expert,
I Am Fresh pass out CA.
My one Clients audit under company law is pending from F.Y.2007-08. Can they appoint me as a auditor for aforesaid period. they have not appointed any CA. secondly what procedure they have to follow for appointing me as a auditor. & also what penalty should have to be paid.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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01 January 2014 Dear Hakeem,

Don't take this wrong way. But I would suggest you not pick such clients if you are not professionally equipped to handle such assignments.

In early days of practice, you would often receive such clients. But they are of no use.

They can't back date your appointment. If they dont back date, then they should have informed central government (ie ROC) for non-appointment of auditor. Even that they haven't done. So there are many non-compliances. So if you really want to go for something like this, then take a professional opinion from a expert CS.

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CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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02 January 2014 @ Nikhil; please convey us about the "skill" which you have used to know the name of the "anonymous author." :)

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 January 2014 sir, was referring to basic understanding of corporate law specially about the appointment of auditor (which is something I believe even an article should be very clear about)!!!!

I believe that is more important than vouching etc!

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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02 January 2014 Ha..Ha...you r right....
.
but your advice is really very useful for new practitioners.