Powers and Duties of Auditor of Company

Q. State the powers and duties of Auditor of Company. [2016 - 4 marks]

Powers and Duties of Auditor of Company

Section 143 of the Companies Act 2013 provides the powers and duties of auditors of company as discussed below.

Rights of Auditor

1. Right to access to the books of account and vouchers [Sec. 143(1)]
2. Right to get information and explanation [Sec. 143(1)]
3. Right to visit branch offices of a company and access to branch account
4. Right to receive notice and attend general body meeting
5. Right to make representation
6. Right to report to members 
7. Right to sign audit report
8. Right of seeking opinion of an expert
9. Right to receive remuneration

Duties of Auditor

1. Report to members [Sec.143(2)]
2. Examination of accounts
3. Reporting on true & fair view
4. Duty as to Enquiry [Sec.143(1)]
5. Report as to additional matters
6. Duty to sign report
7. Duty as to statutory report
8. Duty as to prospectus [Sec.56]
9. Duty to assist investigation