In AAS - 10, It is written in clear words, " The auditor who is appointed for auditing is responsible for audit work. He does not transfer his responsibility on other auditor by using the work of another auditor.
Following are the rules and regulations which another auditor should follow when he or she will use the work of another auditor.
3. Principle auditor should communicate to other auditor. He can contract or keep other auditor as full or part time employee for doing his audit work.
Following are the rules and regulations which another auditor should follow when he or she will use the work of another auditor.
1. Principle auditor should satisfy the professional qualification of other auditor if other auditor is not member of ICAI.
2. Principle auditor should study the reports, advice and findings of other auditor before including it in his audit's part.
2. Principle auditor should study the reports, advice and findings of other auditor before including it in his audit's part.
3. Principle auditor should communicate to other auditor. He can contract or keep other auditor as full or part time employee for doing his audit work.
4. If the Principle auditor will take the work of another auditor, he will give deemed acceptance of tolerating the risk of material misstatements in financial statements of components of audited by other auditors.
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