Question ID : 44748

Rotation of Statutory auditors partnership firm

Whether the same partner can sign the financials of a listed entity for the sixth to seventh year in a row for a firm of statutory auditors ? As SQC 1 explains that signing partner can be engagement partner for seven years in a row of a listed entity? Is there any preventive clause anywhere in Companies Act,2013 to prevent a signing partner to sign the financials for sixth year in a row.As companies act says 50% of audit team should be rotated .But silent about the signing partner.

posted by DIXIT SHAILENDRA PREMSHANKAR on Nov 18 2024 12:00AM