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If, external auditors of the entity change, who will be responsible for opinion on brought forward balances of the entity, retiring or new auditors?

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Question added by Ibrar Ahmad ACA , Financial Analyst , Bin Ghalib Engineering Group
Date Posted: 2014/04/25
BIPINCHANDRA KIBE
by BIPINCHANDRA KIBE , ACCOUNTS MANAGER , CONSTRUCTION GROUP

New Auditors will be responsible for brought forward balances as retiring Auditors will be responsible till the time they retire. New Auditors are taking over the charge of the entity from retiring Auditors hence new Auditors will have to take the responsibility to set everything right.

VISHNU SASI THIRUKULAM
by VISHNU SASI THIRUKULAM , AUDIT ASSISTANT , JOE AND WILLY CHARTERED ACCOUNTANTS

Retiring auditors are responsible for brought forward balances

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