03 June 2012
I got this naggindg doubt owing to some info I got from colleagues that last year, the restriction on audit of related concerns has been tightened. My query is: "Can a CA do the audit of his near relative's accounts for 2012-13 asst.? I am quite aware that a note is required highlighting the fact of relationship. My question is on the specific situation where the Auditor has absolutely no stake in the Auditee's business, which is a proprietorship concern. Please clarify.
CAclubindia
