Right of statutory auditor

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JITENDRA KUMAR LAKHMANI

JITENDRA KUMAR LAKHMANI (Querist)
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30 July 2009

can a statutory auditor lien over the books of acconts upon which he has conducted some part of job?

Ankur Garg

Ankur Garg (Expert)
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30 July 2009 Yes,

Statutory auditor can exercise lien over the books of acconts upon which he has conducted some part of job if the following conditions are satisfied:

1. The books and docs must belongs to the comapny who ows money.

2. The Docs must have come into his possession by the authority of the Board of directors of the company.

3. He has done work assigned to him on such docs.

4. Such of the documents can be retained which are connected with the work on which fees has not been paid.

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