Study of Role of Auditor with Reference to Corporate Governance Norms in Indian Organizations

An auditor is a third party entity; their major role is to achieve balance between taking care of interest of stakeholders and company management. Considering many frauds and failures in the accounting functions and systems, the roles and responsibility of corporate governance and has increased in last few years. Its requires fresh look at the functions, authorities and responsibilities of external auditor as mentioned in the corporate governance policies. This paper focuses on the new perspective of role of auditor in corporate governance and accounting system. Many scams and frauds provide an insight to reevaluates the roles of auditor in corporate governance system. Further this paper tries to understand various legal responsibilities of auditor in the latest corporate governance system and ever changing business environment. it has been evident that position of auditor is quite questionable in the Indian accounting system. So, this paper evaluates ever dynamic function of auditor.