Shubham JainShubham Jain asked 3 years ago
2 Answers
RaviRavi Staff answered 3 years ago

Division of Responsibility
The principal auditor “would not be responsible” in respect of the work entrusted to the other auditors (Branch Auditor etc), “except” in circumstances which “should have aroused his suspicion about the reliability of the work performed by the other auditors”
So generally speaking principal auditor is not responsible for frauds in branch. but if principal auditor had suspicion and then also he doesn’t respond appropriately then he will be responsible.
in above case, principal auditor will be responsible as he was aware of suspicious circumstances and he did not respond appropriately.

Auditaudit Staff answered 3 years ago

Thnku sir

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