Disqualification of auditor

This query is : Resolved

CA Abhishek Y. Bhavsar (Querist)
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18 January 2012 Can A relative (as defined under companies Act or income Tax Act) of share holder become an auditor of private limited company in which that share holder is holding 51% or more shares?
please also take into consideration the professional ethics that is to be followed by ICAI member

Guest

Guest (Expert)

19 January 2012 19th January, 2012

Dear Abhishek,

The relative will be treated as an interested party and hence is ineligible to take up the audit of the private limited company.

FCA Prashant Chavan
Mumbai

CA Abhishek Y. Bhavsar

CA Abhishek Y. Bhavsar (Querist)
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19 January 2012 Thank You Sir.

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