Auditor to sign audit reports, etc
📚 Law Minded summary
The person appointed as auditor signs the audit report personally.
Qualifications, observations or comments on financial matters in that report must be read out at the general meeting, and are open to inspection by any member. An adverse remark cannot be buried in a document nobody reads aloud.
The person appointed as an auditor of the company shall sign the auditor’s report or sign or certify any other document of the company in accordance with the provisions of sub-section (2) of section 141, and the qualifications, observations or comments on financial transactions or matters, which have any adverse effect on the functioning of the company mentioned in the auditor’s report shall be read before the company in general meeting and shall be open to inspection by any member of the company.