21 August 2011
In ceiling of audit its mentioned that if the partner is a full time employee else where he doesnt get any audits to do.But if he is an employee else where wont he fall under the disqualifications u/s 226 ?and the firm wil get disqualified as an auditor?please advice
21 August 2011
Dear ankita under sec 224(1B) of act in sixth lines it is mentioned that no company or BOD shall appoint any person [who is full time employment elsewhere] so this is applicable if company is appointing individual as its auditor not firm. Regards Suumat Singhal
CAclubindia
