Can X & Associates be the statutory auditor of Holding Company PQR Pvt Ltd. and his subsidiary ABC Pvt Ltd. as well?
manpreet kaur (Article Clerk) (33 Points)
06 July 2014Can X & Associates be the statutory auditor of Holding Company PQR Pvt Ltd. and his subsidiary ABC Pvt Ltd. as well?
manpreet kaur
(Article Clerk)
(33 Points)
Replied 06 July 2014
Yes the company affirms for the audit of holding and subsidiary company. Section 226 of the companies act, 1956 confirms the same. I am refering the old act because we have been appointed as a statutory auditor for FY 2013-2014 on which old act is implied.
So i will take the appointment letter for the holding and subsidiary company as well for the confirmation and for the intimation to the ROC as well.
Is my interpretation right?
Gangatharan
(Partner)
(108 Points)
Replied 18 July 2014
Yeah..
We can be a statuatory auditor of holding and subsidiary company.
Both a place statuatory auditor or both place internal auditor is no problem.
One place statuatory auditor and another place internal auditor only will be the problem.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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