Your Firm has been appointed as auditor of ABC Limited. The company had also appointed a cost auditor and therefore, the management had requested your firm not to review the cost records. State your opinion on the above.

1 answer

Ravi Staff April 28, 2018

even if there is separate cost auditor, financial auditor needs to cost records
because it affects inventory valuation / p&L / we have responsibility to review cost records under caro / sec 128 gives right to access all the books and vouchers which have bearing on financial audit
so they cannot stop us just because some one else is also checking it 

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