The Institute of Chartered Accountants of India (ICAI) relaxes requirement of communication with retiring Auditor due to prevailing conditions of lockdown.
ICAI,on Friday has announced that members may communicate with the retiring auditors with the Retiring Auditor vide E-mail.
At present,ICAI Code of Ethics, 2009 requires that an incoming auditor should communicate with the retiring auditor in such a manner as to retain in their hands positive evidence of the delivery of the communication to the addressee & In the opinion of the Council, communication by a letter sent “Registered Acknowledgement due” or by hand against a written acknowledgement would in the normal course provide such evidence.”
ICAI further said that the members may communicate with the Retiring Auditor through E-mail , provided an acknowledgement of such communication is received from the Retiring Auditor’s E-mail address registered with the Institute or his last known official E-mail address. Such acknowledgement of communication would be deemed as valid evidence of positive delivery of communication.