What do you mean by Quorum?

42..Responsibility for the financial statements.
 The auditor is responsible for forming and expressing an opinion on the financial statements.
 The responsibility for preparing and presenting the financial statements rests with management.
 The audit of financial statements does not relieve management of its responsibility.
 The auditor should comply with the code of ethics for professional accountants issued by the International Federation of Accountants.
 The principles include :
 (a)Independence
 (b)Integrity
 (c)Objectivity
 (d)Professional competence and due care
 (e)Confidentiality
 (f)Professional behaviour
 (g)Technical standards
 The auditor should conduct an audit in accordance with International Standards on Auditing.
 The auditor should plan and perform the audit with an attitude of professional skepticism recognising that circumstances may exist which cause the financial statements to be materially misstated.