https://www.taxtmi.com/caselaws?id=444017 An auditor must independently verify that a branch audit appointment is statutorily valid before accepting the engagement; failure to do so is improper and breaches professional duties. The audit file must also reflect clear engagement terms, contemporaneous documentation, materiality and risk assessment, audit testing, and support for the reported opinion; absent such records, the opinion is unsupported and the Standards on Auditing are violated. Where these defaults are established together, they amount to professional misconduct and may justify regulatory penalty and debarment. en-us Fri, 29 Sep 2023 00:00:00 +0530 Fri, 06 Oct 2023 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444017 An auditor must independently verify that a branch audit appointment is statutorily valid before accepting the engagement; failure to do so is improper and breaches professional duties. The audit file must also reflect clear engagement terms, contemporaneous documentation, materiality and risk assessment, audit testing, and support for the reported opinion; absent such records, the opinion is unsupported and the Standards on Auditing are violated. Where these defaults are established together, they amount to professional misconduct and may justify regulatory penalty and debarment. Case-Laws Companies Law Fri, 29 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444017