https://www.taxtmi.com/caselaws?id=752226 Incoming auditor acceptance requires prior written communication with the outgoing auditor and a reasonable time for response, and audit planning should not proceed before that process is complete. The material also stresses that prior-auditor concerns, fraud risks, going concern indicators, expected credit loss assessments, expert reliance, EQCR, and audit documentation must be addressed with sufficient appropriate evidence, professional scepticism, and documented review. Where these requirements are not met, the audit report may be professionally defective and expose the auditors to disciplinary consequences, including monetary penalties and debarment. en-us Fri, 26 Apr 2024 00:00:00 +0530 Sat, 04 May 2024 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752226 Incoming auditor acceptance requires prior written communication with the outgoing auditor and a reasonable time for response, and audit planning should not proceed before that process is complete. The material also stresses that prior-auditor concerns, fraud risks, going concern indicators, expected credit loss assessments, expert reliance, EQCR, and audit documentation must be addressed with sufficient appropriate evidence, professional scepticism, and documented review. Where these requirements are not met, the audit report may be professionally defective and expose the auditors to disciplinary consequences, including monetary penalties and debarment. Case-Laws Companies Law Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752226