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PEER REVIEW

Meher (nil) (28 Points)

21 April 2009

Hi,

I would like to know what proof can be attached inorder to prove independence of the statutory auditor. I would also like to obtain a format, if any, indicating the independent nature of auditor.

If anyone can provide me with the above details kindly mail me at meher _88 @ yahoo.co.in

Thanks & Regards

Meher.

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6 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 23 April 2009

Companies act provides enough provisions to sageguard the independence of Auditor like:

1. Appointment of Statutory Auditor by the shareholders in the AGM

2. He can not be removed before the expiry of his term without CG's approval.

3. He can qualify his audir report if he find any discrepency during his audit in the Co.

Best Regards

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Vrnanda (auditor) (110 Points)
Replied 23 April 2009

Hai Meher,

the independence of the auditors are of several folds,

if you remember, an auditor cannot hold shares in the company under audit or its subsidiaries or holding companies, either by himself or through his relatives.

None of his relatives should be working in the company, if working he independence would be lost.

like wise if your go through the conditions for being appointed as an auditor, eligibility for being appointed as an auditors, rights and obligations of the auditors, you would be able to get the list.

if you could not find the same, i will provide you the required format, and it should be signed and submitted to the audit committe for each time auditor was appointed or reappointed and for each year.

Meher (nil) (28 Points)
Replied 23 April 2009

Hi Vrnanda,

Thanks for ur help. I am also aware of the conditions , qualifications & other points mentioned by you.I would b really happy if u can email me the required format.

Thanks in Advance.

Regards,

Meher