UDIN Generation Issue for Signing the Audit report with Back date

[Surendra Yadlapalli]

Hi,

Can you please advise, the following

In a private limited company, Previous auditor was given resignation on 28th July 2019 before signing the Audit report,certifying the financials for the FY 2018-19.

Casual vacancy due to resignation of previous auditor filled by the board on 26-08-2019 in a EGM.(ADT-1 still not filed).

Note : Previous auditor filed ADT-3 Resignation (Reason :Due to pre- occupied engagements)  with MCA with date of resignation as 28th July 2019 with late fee on 13-01-2020. 

What is the solution,to Sign the New auditor want to sign with back date on Audit report and certifying the financials with date as on 04-09-2019 even though UDIN not generated till date (30-01-2020) ?

Is it possible to generate UDIN now (31-01-2020) and use the same to sign the Audit report with date 04-09-2019. is any any alternative is there for that?

But please keep in mind, Previous auditor already filed ADT-3 with date of resignation as 28th July 2019 with late fee 13-01-2020.

 Thanks in advance.

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Y.Surendra

B.com,ACMA,CS (semi qualified).

[Mustafa Kalyanwala]

You can get the Audit Report signed by previous Auditor before 30.06.2019 without UDIN and conduct AGM before previous Auditor has resigned and then file the Forms AOC4 and MGT7 with penalty if ADT1 is not filed.

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With Regards
Mustafa Kalyanwala
9619185752

[Surendra Yadlapalli]

Hi Mustafa Kalyanwala,

Thanks a lot for your reply, but actually in my client case previous auditor was not willing to sign Audit report for FY 2018-19 due to some personal disputes with the client and he strictly  instinct  the client do proceed with new auditor.

Please advice in this situation is any alternative solution exist?

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Y.Surendra

B.Com, ACMA ,CS&CA (Semi qualified)

[Mustafa Kalyanwala]

Do you have any other solution. Request previous auditor to sign or you have to sign in current date with UDIN and there will be non compliance of AGM where ROC can issue notice.

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[Surendra Yadlapalli]

Hi Mustafa Kalyanwala,  

Is it possible to resubmitted(revise) the ADT-3 with date resignation of previous Auditor is 01-04-2019 or before (Earlier filed ADT-3 with date of resignation as 28th July 2019) and proceed with new auditor with appoint on or before 01-05-2019, File ADT-1 with late fee and Sign the Audit report with dated on or before 30-06-2019. (if Previous auditor no objection to give the revised letter resignation with date 01-04-2019).  

Please advise.

Thanks in advance.

   

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[CS]

As per my opinion, UDIN requirement is of ICAI and if CA is agrees to give clarification for the same like forget to generate UDIN or error at the time of UDIN generation, then you can file Audit report without UDIN with MCA. 

this will be on the gross negligence on the part of CA.

[Surendra Yadlapalli]

Hi Sejalgajjar,

Thanks for your reply, is any another solution exist to proceed with new auditor with out gross neglegent on the part of of CA.

I think Gross neglegent is a professional miscondut under clause 7 of the first schedule of the CA Act 1949. 

Is MCA  tracking UDIN for Audit report dated after 1-07-2019, Suppose if not mentioned any UDIN by CA and is it possibility of receiving any notices from MCA. 

Thanks in advance. 

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[CS]

I dont think MCA will send any notice for the same.

please take other views 

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[CS]

I dont think MCA will send any notice for the same.

please take other views 

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[Surendra Yadlapalli]

Hi Sejalgajjar,

Thanks a lot for your valuable advice. 

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[K VENGETRAO Company Secretary and IP]

Sir

UDIN is the requirement of the Institute and subject to misconduct, if not followed, on complaint. If accounts for audit is not ready well in time before his resignation, CA is not responsible;otherwise he will be accountable for it.

W K R

CS K VENGETRAO

Practicing Company Secretary

Cell:9840112546

  

On Thursday, January 30, 2020 at 6:55:22 PM UTC+5:30, Surendra Yadlapalli wrote: