The person appointed as an auditor of the company shall sign the auditor’s report or sign or certify any other document of the company in accordance with the provisions of sub-section (2) of section 141.
It also says the qualifications, observations or comments on financial transactions or matters, which have any adverse effect on the functioning of the company mentioned in the auditor’s report shall be read before the company in general meeting and shall be open to inspection by any member of the company.
Date of signing Auditors Report: Only after the approval of Final Accounts with Directors Report by the Board of Directors and sign thereto, the Auditors sign the Auditors Report. As to the General practice, both the Annual Accounts and the Auditors report are signed by the Auditors and Directors on the same day.
Earlier similar provisions were prescribed under Section 229 of the Companies Act 1956.