Signing of audit report
Swanand Gadgil (Student) (279 Points)
12 May 2013Swanand Gadgil (Student) (279 Points)
12 May 2013
Sathish M
(Management Accountant)
(40581 Points)
Replied 12 May 2013
Milind M. Kulkarni
(Practicing CA)
(580 Points)
Replied 12 May 2013
I agree with facts mentioned by Sathish regarding ACA and FCA. You will note that FCA is senior in the profession than ACA. However, as regards signing the report by manager, it is a misconduct, since a manager is NOT a partner, though he may be FCA. It may happen that an ACA who is a partner can sign a report but not FCA who is not a partner though he may be senior to the ACA in profession.
Pankaj Gupta
(CA final & M.Com Student)
(3358 Points)
Replied 12 May 2013
Yes ...Only a partner of the practising firm or the propreitor of the practice firm has the right to do attestion function. Be it signing on audit report or authentication of final accounts, etc.
Articles, employees and all others can sign on the other routine correspondances with the clients. They can sign all other documents and papers execpt the above mentioned.
CA. Nuba Subzwari
(CHARTERED ACCOUNTANT)
(501 Points)
Replied 13 May 2013
Only partners of the CA firm being ACA/FCA can sign the audit reports but a MANAGER (being an employee )cannot sign the same even if he is ACA/FCA..
Swanand Gadgil
(Student)
(279 Points)
Replied 13 May 2013
Thank you all for your help! I didn't notice that he was MANAGER as an employee is automatically disqualified u/s 226. Thanks again!
MENA a cuuute girl
(4 Points)
Replied 15 July 2017
MENA a cuuute girl
(4 Points)
Replied 15 July 2017
Also in the answer they are saying other than the auditor who signs or authenticates the document be punishable with a fine...how auditor will be excluded from punishment?
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