Dear Friends,
As per my understanding, a CA firm can't do the statutory audit of the same company whose accounts are also maintained by his firm only. I want to know the implications for Company and CA also if the same situation persist.
Please help me with your valuable suggestion, what should be done to safeguard the interest of the company in such scenarios.
dear Deepak,
you can issue the bill for professional service not for maintainance of book.
Hi Vikas, I am not talking about the safeguarding the interest of CA. My concern is related with the comapny whether this practice of getting accounts prepared and audited by same CA firm is appropriate or should we hire another firm for doing audit or maitaining books of accounts.
So, please think from the company prospective and then reply accordingly.
Regards
Deepak Arora
I don't think both the functions can be performed by the same CA. I don't have a reference.
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