Q. Where a partner of the firm is retiring and has a view that Working papers are the property of the retiring partner and shall not be shared with continuing partners, is that view correct? Need to get clarity on referring which provision correct understanding can be obtained

1,530 views
Question added Dec 7, 2023 Code of Ethics By HARISH CHAND JUYAL, CA in Practice, East Delhi

1 Answer

+1 like
answered Dec 7, 2023 By CA Ayush Jain, CA, New Delhi
selected Dec 7, 2023 HARISH CHAND JUYAL, CA in Practice, East Delhi
 
Best answer
Firm is appointed as Auditor and not any Partner in his/ her individual capacity. Accordingly the working papers belong to the FRN, i.e. the firm and not any individual partner. Even after the retirement of Partner, such audits are subject to Peer Review and also FRN bears the responsibility for any disciplinary matter that may accrue from such engagement. It is accordance with SQC-1.

Concept by CA Pramod Jain

Experts Panelist

  • CA Virander Kumar Chauhan Goods and Services Tax (GST) Answers Posted : 9148
  • CA PRAMOD JAIN Audit and Accounting Standards, Corporate Matters/LLP, Goods and Services Tax (GST), Income Tax, Ind AS, Insolvency and Bankruptcy Code, RBI / FEMA, SEBI, International Taxation , Transfer Pricing, Benami Property Law, Bank / Insurance / Stock / Debtors Audit, Internal Audit, Code of Ethics, ICAI, Miscellaneous, Investment & Finance, Valuations Answers Posted : 8656
  • CA Raman Khatuwala Goods and Services Tax (GST) Answers Posted : 3808
  • CS Divesh Goyal Corporate Matters/LLP, Insolvency and Bankruptcy Code Answers Posted : 1815
  • CA Prakhar Bansal Audit and Accounting Standards, Corporate Matters/LLP, Goods and Services Tax (GST), Income Tax, Bank / Insurance / Stock / Debtors Audit, Code of Ethics Answers Posted : 1424
  • CA MANOJ PAHWA Goods and Services Tax (GST), Income Tax, Insolvency and Bankruptcy Code, RBI / FEMA, International Taxation , Transfer Pricing, Benami Property Law, Bank / Insurance / Stock / Debtors Audit, Miscellaneous Answers Posted : 1297
  • CA CA. RAJESH KUMAR KHANDELWAL Goods and Services Tax (GST), Income Tax, Bank / Insurance / Stock / Debtors Audit, Valuations Answers Posted : 1210
  • CA PRAVEEN SHARMA 9871530610 Goods and Services Tax (GST) Answers Posted : 1101
  • CA ASHU GARG Goods and Services Tax (GST) Answers Posted : 959
  • CA Rajesh Saluja Goods and Services Tax (GST) Answers Posted : 823
  • View more

30,052 questions

36,111 answers

123 experts

9,723 querist

...