AUDIT UPDATES

BANK AUDIT UPDATES 

Bank Management is asking the Concurrent Auditor to sign/ carry out attest functions in respect of various Bank Audit documents Certifications including LFAR AND TAX audit report by payment of Lum Sum fees of a very small amount say Rs.5000/ only.ca, gst, auditors, incometax

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Whether the Concurrent Auditor should refuse to sign LFAR and Tax Audit Report?

FAQ (refer link below) brought in by Ethical Standard Board of ICAI clearly states that internal auditor cannot perform statutory audit function irrespective of amount.
LFAR and Tax Audit are statutory report prescribed by the statue and hence Internal Auditor cannot do that.

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Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.

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Certicom Consulting

Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.