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Dear Sir,
The right to have Access to all information circulated to Members of the Company I asume it stays active even when Auditor is on Pasive duty. As auditors we have a right to change errors on figures circulated on F.S sent to shareholders.
Is there any additional right or obligation that Auditors have while on Pasive duty?
After signature´s date on Audit report, Auditor changes from Active to Pasive duty. Would the auditor remain in Pasive duty till the next year´s interim audit?
Thank you in advance for your help answering these queries.
Kind regards,
Isabel
Yes, auditors continue to have the right to see all the documents they need. Auditors do not have the right to change the figures in the FS – these are prepared by the directors. Auditors have the right to circulate a document or speak at the annual general meeting to explain errors that might have been identifed since signing the audit report.
There are no additional rights or duties whilst on passive duty.
When the duty changes from active to passive, strictly the auditors would remain on passive duty, but the chance of anything happening relating to a set of FS that are becoming older and older reduces sharply.
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