Friday, September 25, 2009

LIABILITIES OF AN AUDITOR

1. Contractual liabilities

2. Statutory liabilities

****a. Under Companies Act

*******i. Civil liabilities

**********I. Liabilities for negligence

**********II. Liabilities for misfeasance

*******ii. Criminal liabilities

****b. Under Indian Penal Code

3. Towards third parties(bank, public, creditors, government etc)

Also visit www.princyfrancis.blogspot.com

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