Can Chartered accountant be held responsible for delay in tax audit
Can Chartered Accountant be held responsible if tax audit is not completed on time or if tax audit report is not filed within due date?
Answer to this question depends on facts & circumstances of the case.
Normally it is professional duty of chartered accountant to ensure that the audit accepted by him is completed before the due date. If there is any unreasonable delay on his part, then he will be answerable to the institute if a complaint is made by the client. However, if the delay in the completion of audit is attributable to his client, then tax auditor can not be held responsible.
So, chartered accountant should not accept audit assignments which he cannot complete within due date.