QuestionsCategory: CA-Final Prof Ethics(Know Your Ethics) Can a Concurrent Auditor of a Bank also undertake the assignment of quarterly review of the same bank?
Santosh ChoudharySantosh Choudhary asked 6 years ago
1 Answers
RaviRavi Staff answered 6 years ago

No, the Concurrent audit and the Assignment of quarterly review of the same entity cannot be taken simultaneously as the concurrent audit is a kind of internal audit and the quarterly review is a kind of statutory audit. It is prohibited in terms of the `Guidance Note of Independence of Auditors’.