Regarding Signing of Audit Report

    Posted By : Pcs / Published on : 21-Oct-2017 06:47 PM / View : 559 / Comment : 7
    Print button
    What is the procedure to be followed in given scenario: A proprietorship firm was appointed as auditor. The proprietor joined as a partner in another firm from 1/7/2017.Now who will sign the audit report for year ended 31.03.2017 ?
    Read more on : report audit signing regarding

    • In view of your query,

      As per my understanging: Same Auditor will sign the Audit Report in the capacity of his own individuality (ADT-1 to be filed for change of Firm only), and Audit Report for year ended 31.03.2017 will be signed by same Auditor after changing of firm Name from Proprietorship firm to Partnership Firm.

      Others views are solicitated.

      21-10-2017 / 01:26:58 PM
      Reply
    •  As per my understanding the auditor has to resign on 30.06.2017..A casual vacancy will arise which can be filled within 3 months by conducting an AGM .Auditor can sign the report till 29.06.2017. ADT 3 can be filed with additional fees 

      21-10-2017 / 05:56:21 PM
      Reply
      • There is no requirement of filing ADT-3. Same Auditor will sign in the capacity of Partner of the Firm. Further, Company has to to file ADT-1.

         

        21-10-2017 / 06:34:59 PM
        Reply
    •  As per my understanding the auditor has to resign on 30.06.2017..A casual vacancy will arise which can be filled within 3 months by conducting an AGM .Auditor can sign the report till 29.06.2017. 

      21-10-2017 / 05:56:59 PM
      Reply
      • Dear Preeti, this is not a case of Resignation thus filing of ADT-3 is not required. Rather, while uploading the ADT-1, SRN of previous ADT-1 (instead of ADT-3) has to be used in the Fresh ADT-1.

        We can not use Z99999999 in ADT-1.

        21-10-2017 / 06:33:29 PM
        Reply
        • Sir can you guide me the exact procedure to be followed. Are you telling me that the AGM should be conducted before 30.06.2017 and new auditor be appointed in that?

          22-10-2017 / 01:30:22 AM
          Reply
          • Dear Preeti,

            AGM can be conducted till 30/09/2017.

            ADT-1 should be filed by 15/07/2017.

            Audit Report will be signed by the same auditor but now in the capacity of Partner as Propritorship Firm has ceased to exist.

            ADT-3 is not required as this is not a case of Resignation.

            While filing ADT-1, when it asks for the SRN of ADT-3, feed SRN of ADT-1 of previously appointed Auditor (Proprietorship Firm).

            Attach Firm Constitution Proof as given by ICAI in ADT-1.

            Others views are solicitated.

            22-10-2017 / 06:41:16 AM
            Reply



Other Queries from Pcs
What's New on
Latest Queries
Like us on Facebook
Follow Us on Twitter
Latest ArticlesSubmit Article

We are always here to help you. Don’t hesitate to contact us anytime!

011-42345111 or ask@compliancecalendar.in