No bod cannot deny for that since it’s written in premise on which Audit is conducted, ie management responsibilities.
book and paper and book or paper include books of account, deeds, vouchers, writings, documents, minutes and registers maintained on paper or in electronic form;
Books of accounts includes the subsidiary books, journal, ledgers, etc.
So if auditor ask for minutes of any meeting , can BOD deny saying that auditor has only right to Books of accounts and not books and paper /books or paper
Obtain the agreement of management that it acknowledges and understands its responsibility: (Ref: Para A10-A13, A19)
(i) For the preparation of the financial statements in accordance with the applicable financial reporting framework, including where relevant their fair presentation; (Ref: Para. A14)
(ii) For such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; and (Ref: Para. A15-A18)
(iii) To provide the auditor with:
a. Access to all information of which management is aware that is relevant to the preparation of the financial statements such as records, documentation and other matters;
b. Additional information that the auditor may request from management for the purpose of the audit; and
c. Unrestricted access to persons within the entity from whom the auditor determines it necessary to obtain audit evidence.
Sec 143 (1)
Powers and duties of auditors and auditing standards
(1) Every auditor of a company shall have a right of access at all times to the “books of account and vouchers” of the company, whether kept at the registered office of the company or at any other place and shall be entitled to require from the officers of the company such information and explanation as he may consider necessary for the performance of his duties as auditor.
The phrase ‘books, accounts and vouchers’ includes all books which have any bearing, or are likely to have any bearing on the accounts, whether these be the usual financial books or the statutory or statistical books; memoranda books, e.g., inventory books, costing records and the like may also be inspected by the auditor. Similarly the term ‘voucher’ includes all or any of the correspondence which may in any way serve to vouch for the accuracy of the accounts. Thus, the right of access is not restricted to books of account alone and it is for the auditor to determine what record or document is necessary for the purpose of the audit.
BOD minutes will be covered in above term.
Sir can we refer to SA 210 ? Access to any other information required for the conduct of audit. Management responsibilities specified under SA 210
if questions focused on meaning of terms and its impact better use company act as base to answer it
generally 210 is all related to engagement letter and related matters, it should be brought if there is direct connection with engagement letter
i understand SA 210 clarifies , reinforces our rights & powers
but follow advice for exam point of view