Question ID :
44723
026801
A government body has appointed me as Auditor of a Society. The term of the appointment states that the Auditor shall prepare Trial balance, Receipts and Payment Account and Balance Sheet apart from Audit .
The Clause of Terms and Condition is " Audit by the Chartered Accountants shall include Value of Money Analysis, Economy Efficiency and Effectiveness. receipts and Payment Accounts , In come & Expenditure Account and Balance Sheet to be prepared and certified "
Thou it is not clear whether the Auditor has to prepare the Final Account and Audit the same, the Auditee expects the Auditor to do so.
Under such circumstances, can we accept the assignment
or will it be against the professional ethics
Posted by
Syed Sultan Mohideen
on
Sep 03, 2024
Filed Under
AUDIT
No, It is not the Auditor's Duty neither the responsibility of Auditor to Prepare the Final Accounts which is meant to be Signed by him.
Although if Auditee client mentioned in the Tender Document for performing such work then the same must have to be revised as per the law.
Posted by
HARJEET on
Mar 07, 2025