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Vismay ShahVismay Shah asked 3 years ago

While doing preliminary activities you observed that previous auditor resigned, and you also found audit fees payable of Rs. 25000. What precaution you will take before commencing audit?
In this practice manual question, icai gives whole process to be carried out before commencing audit but after all they have not provided any conclusion whether you should accept the audit or not. Now considering audit fees unpaid of previous auditor, should we reject the audit?

1 Answers
RaviRavi Staff answered 3 years ago

if fees in unpaid auditor cannot accept assignment, below is the only exception
but if it’s a sick company ( liabilities more than asset) then he can accept 

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