“Displacement of the auditor of the company in a take over often obviated” what does this statement mean q 32 ch 7 ipcc pm pg 7.36

1 answer

Audit Staff June 13, 2018

Generally when takeovers happen. new management may change existing service providers, like legal advisers, auditors etc but change in auditor will be chaotic as it will take time for new auditor to understand entity and environment
in such scenario it will be good to have joint audit, keep existing auditor and add one new auditor this will keep things balanced
so this is advantage of joint audit.

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