Clarification on Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client

Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client

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Please find text of the Clarification on Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client notification below –

Clarification on Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client

Ethical Standards Board
The Institute of Chartered Accountants of India
5th January, 2021
ANNOUNCEMENT
Clarification on Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client

The Institute has been receiving queries from the members as to whether Statutory Auditor of a Company can give feedback of the said Company to the Credit Rating Agencies (CRAs).

It is hereby clarified that under the provisions of Chartered Accountants Act,1949 it is not permissible to members to share client information with the CRAs, except if permitted by the Auditee client.

The members may ensure compliance with the above. Failure to comply with the same shall result in professional misconduct in terms of the of the provisions of Chartered Accountants Act,1949 and the Code of Ethics.

Official Link of Clarification on Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client notification can be accessed from below –

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