Sir firstly TATA company appoints abc ltd firm as auditor for 10yrs which consisst member A,B,C. After tenure TATA appoints xyz firm for audit of 10yrs which consist partner X Y Z. After 1yrs of appointment of XYZ firm MR A partner of ABC firm joints XYZ FIRM. so now as mr A was in coooling period whether now xyz firm will be disqualified for Audit of TATA company or it will be qualified for further Audit of TATA?

Questions › Category: Co.Audit - II › Sir firstly TATA company appoints abc ltd firm as auditor for 10yrs which consisst member A,B,C. After tenure TATA appoints xyz firm for audit of 10yrs which consist partner X Y Z. After 1yrs of appointment of XYZ firm MR A partner of ABC firm joints XYZ FIRM. so now as mr A was in coooling period whether now xyz firm will be disqualified for Audit of TATA company or it will be qualified for further Audit of TATA?

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VARSHIL PATEL asked 3 years ago

1 Answers

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Ravi Staff answered 3 years ago

its a common partner situation
we have to check common partner situation as on date of appointment
as there was no common partner situation as on date of appointment
rotation is not applicable to new firm
i am assuming A ha not left earlier firm
if A has left old firm them it will become case of partner joining new firm, in such case if A was in charge of firm and after leaving new firm joins new firm, then they will go under rotation irrespective of when he joins new firm