Not auditor’s job to be a bloodhound : ICAI president

Not auditor’s job to be a bloodhound : ICAI president

CHARTERED ACCOUNTANTS cannot be bloodhounds converting statutory audits to forensic audits, Institute of Chartered Accountants of India(ICAI) president Niahr Jambusaria said on Friday, adding that the regulator was trying to convey this to the government and investigation agencies.

“I dont’t think an auditor’s job is to become a bloodhound. He is a watchdog, at the most, what you can expect is that he becomes a sniffer dog who can smell and just pass on the feeling to the audit committee, “said Jambusaria, adding that auditors can recommend that a company go for a forensic auidt but cannot initiate investigate themselves.

“The Institute is trying to communicate (this) to stakeholders, even to the SFIO (Serious Fraud Investigation Office), EOW (Economic Offenses Wing) and the government, “he headed.

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