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GROUP:- 6
ROLL NO:- 102-112
TOPIC
RIGHTS,DUTIES AND
LIABILITIES OF AN
AUDITOR.
RIGHTS OF AN AUDITOR :
According to section 227 (1) of the Companies Act, 1956, a
company auditor has the following rights:
1.Right of Access to Books of Accounts.
2. Right to obtain Information and Explanations.
3. Right to Correct any Wrong Statement.
4. Right to visit Branches.
5. Right to Signature on Audit Report.
DUTIES OF AN AUDITOR:
(A).SATUTORY DUTIES1. Report to members [sec 227 (2)]
2. Duty as to inquiry [sec227 (1-A)]
3. Duty to sign report [sec 229]
4. Duty as to satutory report sec [165(4)]
LIABILITIES OF AN AUDITOR:
(A) CIVIL LIABILITIES:1. Liability for negligence.
2. Liability for misfeasance.
AUDIT &
AUDITORS
NEW
PROVISION
AUDITOR NOT TO
RENDER CERTAIN
SERVICES
OVERVIEW
Section 144
The section provides that an auditor appointed under this Act shall not
directly or indirectly provide any of the following other services to
auditee-company or its holding company or subsidiary company: