CA KARTHIK (CHARTERED ACCOUNTANT) (189 Points)
14 July 2009I am a newly qualified CA and my Dad is a CA doing practise since 30 years. I joined as a Finance Manager in one of the client companies of my father as there was a heavy requirement. of a CA.
Can Father Audit the accounts of the company prepared by Son....Both are competent in their professional capacities. One as an auditor and other as a Finance Manager.
Please suggest in view of Disqualification of Auditor and Professional Ethics.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 14 July 2009
Hi Karthik,
Congratulations for becoming a CA!!!
As per my opinion and keeping in view the provisions of independence of auditor the same is not possible.
However views of other members solicited.
Best Regards
Rahul
(CA Practice )
(1818 Points)
Replied 14 July 2009
Hi Kartik there is no disqualification or professional misconduct.
I can give you an example:
There is a very big garment export house Orient Craft Limited. Auditor of this company is the brother of the chairman of Orient Craft.
Therefore there s no misconduct. Your father can audit the accounts of the company in which you are employed.
CAclubindia
