Can a Auditor do Audit of His Brother's Firm or co.. OR any Firm in which his Relative Works as a employee,directors, etc. I read that he can do by disclosed his relation but somebody told me that ICAI restricted for doing audit. Whats the correct answer plz. give.
3 Replies
CA B Anand
(CHARTERED ACCOUNTANT)
(198 Points)
Replied 25 June 2010
HE CAN AUDIT....NO PROBS... ....BUT HE MUST DISCLOSE HIS INTEREST IN THE FIRM IN HIS AUDIT REPORT.....
Manivannan.C
(article clerk - CA pcc 1st grp cleared)
(80 Points)
Replied 05 July 2010
NO as per ICAI Act he can audit but cant give his opinion on financial statement. .
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