Question ID :
44889
SRS 4410 vs Statutory Audit
Can a proprietor who have performed engagement as per SRS 4410 of LLP, do a statutory audit of the same LLP ? Because, wordings of SRS 4410 "We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation...." If proprietor is assisting in preparation then how can he do stat audit the same entity ? Kindly clarify..
Posted by
Mayur J. Raiyani
on
Jul 05, 2025
Filed Under
AUDIT
No — in most cases, he SHOULD NOT conduct the statutory audit. Doing so violates the independence and ethical requirements prescribed under:
1. SRS 4410 (Revised)
2. Code of Ethics (ICAI)
3.Fundamental principles of audit
Posted by
CA. SATISH CHAND GARG on
Feb 01, 2026