Statutory Audit

This query is : Resolved

Abhay Gujarathi (Querist)
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05 October 2010 Dear all,

we are the auditor of pvt. ltd co. from the last 2 years they have not audited their accounts,we have approch them but books are not ready, they have also not file Annual return..

Now wt as a auditor we have to do??? any liability arise on our part ?? Thanks..

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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05 October 2010 Since when you are appointed as the auditors?

If you have accepted the appointment, then you should have issued a disclaimer of opinion in your audit report as audit could not be conducted by you.

Auditor is not liable if the company does not file Annual return.

Abhay Gujarathi

Abhay Gujarathi (Querist)
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05 October 2010 thanks Mr. Suraj...

3 years back..and we are continued as Auditor of the company sine then. and wt kind of liability arise if we fails to give the same???

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Ajay Mishra

Ajay Mishra (Expert)
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06 October 2010 Hi

As a good Corporate practice,you should sing only the current account audited by you and should sign on behalf of the company.

Regards