A statutory auditor who has resigned is required, per ICAI guidance, to:
ASubmit a "Statement of Audit Status" indicating reasons and status of audit, and inform NFRA in case of listed entities, within prescribed timelines
BHand over books physically to client
CRefund all fees collected
DRe-audit prior years pro bono
Answer & Solution
Correct answer: B. Hand over books physically to client
1. ICAI/NFRA require resignation auditor to make detailed disclosure on reasons + audit status.
2. For listed entities and certain others, NFRA reporting is mandatory under Section 132.
3. Refund / re-audit / book handover are not statutory requirements.
_Source: ICAI BoS CA Final Paper 3, Ch 5 "Company Audit"_
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