Draft NOC from previous auditor

[Vivek Hegde]

Dear Freinds

 

As you all know if the company appoints new Statutory Auditor he will take that assignment only after geting NOC from the previous auditor.

 

It would be great if anybody can share the format of NOC.

 

Thanks in advance.

Regards

CS Vivek Hegde,B.com, ACS, CWA
Company Secretary in Practice
No. 405, 4th Block, 7th Cross
Koramangala, Bangalore-560034
Mob: 9019756940

[Vedavathy Kabadi]

Mr. Vivek,
As a general practice, usually the Statutory auditors are not removed by the companies, but instead of removal the auditors will be asked to resign.
And in that case, the resignation letter from the previous auditor would suffice for the fresh auditors to take the assignment.
Please correct me if my view does not hold good.
Thanks & Regards
CS Vedavathy R Kabadi

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[Vivek Hegde]

Dear Vedavathy

 

But in my case it is not resignation. It is the case of existing director has not been reappointed. He will not give resignation letter and all. New auditor is insisting for NOC.

 

Regards

 

--

[Vivek Hegde]

Sorry.. Read it as Existing Auditor..

[Prakash M]

Dear Vivek,

 

As per my knowledge Companies doesnot specify on NOC from previous Auditor or there is any specific format. But as per ICAI guidlines any auditor should get NOC from previous Auditor before accepting the appointment. this is the professional ethics to be maintained as per the institute.even any pending bills needs to be cleared before accepting the appointment. this up to the auditor to decide.

 

Any way find attached a Format of NOC as we normally follow which needs to be issued after the new auditor gets the appointment letter from the Company and before he gives acceptance.

 

Contrary views are welcome....

 

Thanks & Regards

 

Prakash M

[Vivek Hegde]

Thanks Mr. Prakash...

 

Vivek

 

[ashwin kumar]

Dear vedavathy,

what ever u said... is wrong... as without the communication with the previous auditor... engage in audit assignment is oppose to professional ethics as per CA ACt 1949, so the auditor before engagement should communicate with the previous auditor...
and No objection certificate is must for an auditor.. who has been engaged as an auditor..


and there is no particular format for issuing NOC,,,,, it can be issued on the letter head of the propritor/firm, with sign and seal of the member in practice.


thanking you

--
Ashwin Kumar H V
No 4, 4th cross 7th block west,
Jayanagar, Bangalore 70
Mob. 9986552202, 9986909515

[Chirag Karia]

I do agree with ashwin's views...................

 

With reference to Auditing Standards it is recommended for an Auditor to take NOC from the previous Auditor, in whose place he is proposed to be appointed. This is basically done in view of good professional ethics and also to get imp info (work papers or case sheets relating to account/finance/tax/Statutory issues) of the company from the existing Auditor. So the proposed Appointee (New Auditor) is on safer side both from professional colleage and the company.

 

Pls corect me if my views are incorrect..............

 

Regards,

 

Chirag