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Can auditor sign the financials of preceding 2 years financial statements

Abdul Rakeeb Vavalam (CA in Practice) (21 Points)

12 May 2021

I have been recently qualified Practicing Chartered Accountant enrolled from 02-03-2021. I have been approached by a private limited to appoint me as an auditor of the company. However, their financial statement had not been audited since financial year 2017-2018 due to the dispute with a Non-CA accounting firm (Not an Audit Firm). Please let me know

1. Whether I can audit the Financial statement for the FY 2017-2018 to 2019-2020?

2. Can an Auditor appointed during the Financial Year 2021-2022, do audit for the preceding financial years, if the same has not been done on account of the aforementioned reason?

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5 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 12 May 2021

On joining the company, you are qualified 100%.

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 12 May 2021

Yes you can do audit. But for previous years you have to communicate with the previous auditor

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5146 Points)
Replied 12 May 2021

You can find out from Ministry of company affairs website for your required information. Proper and accurate compilation of financial information of a corporate and its disclosure, in a manner that is standardized and understood by stakeholders, is central to the credibility of the corporates and soundness of investment decisions by the investors.