Asmita (Chartered Accountants) (32 Points)
28 January 2013
Can a Banks Statutory Auditor accept assignment of Information Systems Audit or Data Migration Audit etc. of the same Bank, during his continuance as Statutory Auditor of that Bank ?
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Arniv Sharda
(CA Final)
(3006 Points)
Replied 28 January 2013
According to me this is not possible
even the concurrent auditor cannot accept IS audit or Revenue audit of same branch
cheers
sathianarayanan.t
(chartered accountant)
(267 Points)
Replied 04 February 2013
As a statutory auditor, you are not allowed from accepting any other assaignment from that company/bank
CA VEERENDRA MURASHILLIN HUBLI
(CHARTERED ACCOUNTANT)
(123 Points)
Replied 05 February 2013
Statutory Auditor cannot be IS Auditor.
CA.Veeredra.Murashillin , Hubli
Pawan Mittal
(CA Final)
(711 Points)
Replied 08 March 2013
A statutory auditor is supposed to be independent. Therefore companies act and CA institute has imposed some restrictions to ensure that the auditor does not become biased.
An internal auditor is a kind of employee of the company therefore a statutory auditor cannot accept the internal audit of the same company.
Since in case of Data migration audit and information system audit, auditor is appointed by the management so the independence of the auditor can be affected.
Therefore he cannot accept.
CA. N M Poptani
( CA)
(49 Points)
Replied 11 March 2013
Any one got any allotment from CBI.......... i.e Central Bank of India ?
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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