Is it compulsory to obtain no objection letter by previos auditor while starting a new stat. audit.If yes,then under what guidelines...
3 Replies
Swapnil Jain
(Finance - FP&A)
(564 Points)
Replied 17 September 2014
yes... please refer clause 8 of part I of First schedule to the CA Act, 1949.
Himanshu Agarwal
(Student CA Final )
(244 Points)
Replied 18 September 2014
Agreed with swapnil...
it is a mandate to obtain NOC.
Basavaraj
(Associate)
(147 Points)
Replied 21 September 2014
Statutory auditor needs to obtain noc from previous auditor it is compulsory before starting of audit otherwise it's considered as professional misconduct under ca act 1949
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