etc. the anotre SO.

valuebe
accountsinal their vouchers.
bonafide
ON D. Verification, Balance
By Verification, on Following The
In
Verification Verification 4.Whom.Verification
3. posting Valuation
Subject-matter.
2. Vouching
theMeaning. 1.
Evidence. When. three
VALUATI
pISTINCTIOANODN
e Valuation
Sheet in
e
arVouching th e certifies are terms,
and on at and
an is In to Vouching
ledger. the
made be th e th
valuation,e
of auditor vouching, Valuation,on VERIFICATION
VOUCHING,
pointsBETWEEN .e.
AND prepared. other
is end Vouching theother
on done correct vouching,
has the is of hand,
processthe is of
hand,
N to bonafide after done the on distinction
depend basis year. value
e the the is by the made isproves verification
done
vouchersof hand, other entry the other of
uponevidence by
Senior t
of thehe of
of the hand, e
thassets
existence, comparing
the and
OF are Auditor
the Auditor entries TesS. 1S
he certificate such transaction are are and
sufficient valuation
s ENT
as done made ownership
liabilities
recorded the
the himself and
to endtheat of entries
of evidence
in Audit seem
the title the
the the or in atand
rs/directors. deeds, his
clerks. assets the the in to
gSSETS account of booksthe be
for associates. books date title
receipts
vouching. the and identical,
of to
ur financialbooks. liabilities of the the
original
entries and assets. of
of balance accounts but
s.
payment year actually
appearing
sheet.
whenthe with
made, the they
in
 RIGH15
Anybody who is given a task to
erformance of the risk. To enable the
perform AubITOR
must gct 13.7
Companies Act. give him the auditor of the rights lowhich
1. Rights
of access to books of following rights: a
company discharmaygebe hisexsential for the
complete access at
all
includes all documents,
times to the books,
correspondence,
aceounts. Every
accounts and auditor of a
duties
properlyproper
, the
disclosed in the financial statements agreemcnt vouchers
clc., the company has right to free and
of
directly or which support company. The term
documents are available to the The term in'all
directtimes'ly. Themeansterm books transactionsvoucherdata
cCounting, , statutory and statistical books. any the of
hours. The or
2. Right to obtain information andI auditor, wherever they may beonly during theinclnormal udes financial
require from the officers of explanation. An auditor is kept by the busines
to
hink necessary tor the
the
company such authorized company
perfomance of his dutles as iauditor
nforrmation and
explanation as the audtor
To strengthen the position of auditor requires every
delay infomation to the auditor. whether or not officer of the
company.
2 Picht to
such
information is availableconpany to furnish
from the accountswithot
of the
inspect
other than the branch accounts. Where the accounts of any branch officer are
Fe ifbe deems it necessary company's auditory, the company's auditor shall be audited hya
to do so for the entitled to visit the branch
performance of his duties as an auditor. He shall also have
RRRCES alal all times to the books, accounts
and vouchers of the company
However, in the case of banking maintained the branch office
at
companies having a branch
sufficient. if the auditor is allowed access to such copies of, and office outside India it shall be
the branch as have been transmitted to the principal office in India.extract from. the books of accounts of
4. Right to receive notice. All notices of the company and
other communications relating to, any
itgeneral meeting of a company, which any member of the company is entitled to have sent to him shall
also be forwarded to the auditor of the company. He is also authorized to attend the meetings and
make
comgany statement or explanation with regard to the accounts audited by him. However, he is under no duty
to answer to any questions.
5. Right to sign the audit report. Only the person appointed as auditor of the company. or where
auditor's report or
4 mIs so appointed only a partner in the firm practicing in India, may sing theauthenticated
authenticate any other document the company required by law to be signed or by the
m auditor
of the company and not the Board of Drvtors
e duditor is to make report to the members accounting system whxch may be
the changes in the
e a s tne nght to recommend to the boardupon he has the right to report the fact to the memes
Y. II his recommendations are not acted
of the conpany through his report. entitled to seek legal
of a company is
6. Right to seek legal and technical advice. The auditor of audit or discharge of his
conduet of
and perfornance
technical advice which may needed in the
be
of the
duties. an audilor is
considered to be an ofticer
against any
7. Right to be indemnified. For many purposes, out of assets of the company by the
be indenificd eriminal prxeed1ngs
company. As an officer he has a right tohimself against any civil or
liability defending
incurred by him in entitled to his remuneralion
company if he is held not euilty by the law.
of his work an auditor is
8. Right to remuneration. On completion abridged either by the vod articles or resolution
of the

or theretore
Ihe rights of the cannot be limitednature is ultravires and
auditor
members. Any provision or resolution of this

378
(I906) 2 Ch.
1. Newton vs Small Ars Co.
Birminghan