20 March 2009
in the disqualifications of a auditor it was state that auditor has no relationship with the company... but ICAI giving its audited statements after financial year.. how could it possible... who will audit the ICAI what r their qualifications.. is they qualified under ICAI.. the have relation between icai and them.. then how could they audit the ICAI accounts
20 March 2009
ICAI audit is conducted by an Indian CA firms appointed.
Yes, these are the members of ICAI but these member have no interest in the ICAI.
Suppose you are a Chartered Accountant and you will be appointed as a Auditor of ICAI. Now tell me what is the relation between you and ICAI. You are only just a member not an interested member of ICAI. You can do the audit independently and there is no benefit for you to give a wrong audit report.
I think that it will clarify the difference between the two.
CAclubindia
