09-30-2003, 07:49 AM
Agreed with guybrush,
If both the auditors are jointly appointed for an audit, or any specific job, then they can mutually decided about the division of work, but if something goes wrong subsequently relating to the audit, then both the auditors will be collectively responsible for said job, as the opinion will be signed by both the auditors.
Here one thing must also be considered, that the external auditors are appointed by the shareholders for statutory audit, and internal auditors are hired by the management for specific management purposes.
S M R
Edited by - smraza on Sep 30 2003 025209 AM
If both the auditors are jointly appointed for an audit, or any specific job, then they can mutually decided about the division of work, but if something goes wrong subsequently relating to the audit, then both the auditors will be collectively responsible for said job, as the opinion will be signed by both the auditors.
Here one thing must also be considered, that the external auditors are appointed by the shareholders for statutory audit, and internal auditors are hired by the management for specific management purposes.
S M R
Edited by - smraza on Sep 30 2003 025209 AM
