K N V S SIVAKUMAR (QUALITY LEAD AT CHEGG INDIA PVT LTD) (964 Points)
12 October 2010M/s ABC & Co, Chartered Accountants, New - Delhi is a vast expertise audit firm in Delhi. The staff of ABC & Co after completion of the Tax Audit Season ending 15.10.2010 found that their principle have done 46 Tax Audits for the financial year 2009 -10. The auditor signed the reports keeping reliance on their staff.
Does the auditor have to face any penal or legal consequences? If yes State them
Its happened case...... Experts - Please reply urgent !
Sunshine
(Helping All)
(10575 Points)
Replied 12 October 2010
its a case of professional misconduct...ICAI will take strict action..
K N V S SIVAKUMAR
(QUALITY LEAD AT CHEGG INDIA PVT LTD)
(964 Points)
Replied 12 October 2010
Thanks for comment.
Whether there will be any relief to the auditor, on proving that the mistake was committed due to heavy work burden and that to by the staff.???
Abhay Gujarathi
(C.A.)
(200 Points)
Replied 13 October 2010
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