CA. Abhinav (CA) (47 Points)
24 October 2013CAN HOUSING LOAN BY PARTNER BE TAKEN FROM A BANK WHERE CA FIRM HAS TO CARRY OUT STOCK AUDIT.
I THINK THAT WE CANNOT ACCEPT STATUTORY BRANCH AUDIT IF ANY TYPE OF LOAN IS TAKEN BUT NOT IN CASE OF STOCK AUDIT/INSPECTION AUDIT.
WOULD BE HIGHLY OBLIGED IF ANY ONE COULD PROVIDE GUIDANCE IN THE SAID MATTER.
THANKS
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 29 October 2013
yes the restrict on may apply only to statutory auditor. However, it is preferable to avoid any such conflict of interest even if not barred by any law.
CAclubindia
