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PRAKASH MATUPALLIPRAKASH MATUPALLI asked 12 months ago

Sir 
Is peer review mandatory for all audit firms whether small or big ??? ie  what are the obligations on the part of practising units if peer review is not done for their audit firms ??? Does every firm who does Audit related works need to go for peer review ??? All audit firms in india do they undergo any  peer review till now (if they are providing auditing and assurance services since 30 years )

1 Answers
RaviRavi Staff answered 12 months ago

its mandatory to all firms
if you dont get it done
there is no penalty
firm will not be eligible for audit of listed companies and other assignments by regulators which make peer review mandatory 

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