As per rotation of auditors’ rule, auditor needs to rotate from the client and should not be involved with the audit for the cooling off period. Can he act as an independent review partner in the cooling off period?

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As per rotation of auditors’ rule, auditor needs to rotate from the client and should not be involved with the audit for the cooling off period. Can he act as an independent review partner in the cooling off period?

Questions › Category: General Ques › As per rotation of auditors’ rule, auditor needs to rotate from the client and should not be involved with the audit for the cooling off period. Can he act as an independent review partner in the cooling off period?

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Archana Bakshi asked 7 years ago

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audit Staff answered 6 years ago

Rotation in company act is for auditors, company act is silent on who can assist or help in audit, there are no restrictions on who can be independent review partner for quality control so its absolutely fine if partner rotated becomes review partner for quality control.