Reporting requirement
Report whether there has been any resignation of the statutory auditors during the year, and if so, whether the auditor has taken into consideration the issues, objections or concerns raised by the outgoing auditors.
What to verify before signing
- NOC from outgoing auditor; communication under SA 510 / ICAI Code of Ethics
- Form ADT-3 filed by outgoing auditor with reasons for resignation
- Significant issues flagged by outgoing auditor — incorporated into the new auditor's risk assessment
Sample observation — applicable
There has been no resignation of the statutory auditors during the year and accordingly, this clause is not applicable.
Related standards
Section 140 Companies Act 2013SA 510
On CORAA
Clause (xviii) auto-populates from the underlying ledger work in CORAA’s
Reporting hub. Each observation traces back to the transactions that triggered it. Pair with our
CARO 2020 Checklist template for the full audit-report annexure.
Related on CORAA University
