A partnership firm in which a lady is partner. Can such firm be appointed as auditor of company in which her husband and father in law are directors?
Is there any disqualification?
Krutesh Patel (ACA) (727 Points)
28 July 2009A partnership firm in which a lady is partner. Can such firm be appointed as auditor of company in which her husband and father in law are directors?
Is there any disqualification?
K.Murali FCA
(Partner)
(30 Points)
Replied 14 August 2009
Yes. One need not look into law. Indepndance is a matter of mind and such close relationships would affect independance. ON the lighter side, if one wants to retain the instituton of marriage, better not to appoint one's wife as Auditor. The BOSS stays Home.
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 14 August 2009
Also an firm of CA can be appointed as auditors if all the partners are CA.
Kaustuv
(Practicing CA)
(1773 Points)
Replied 01 September 2009
As rightly said by Mr. Murali that independence is something which is both in form and also in substance. I should not only be actually independent but also be perceived as independent. The corner stone of our profession lies in the fact that we are the persons above any conflict of interest and only thus we can deliver opinions which are not biased.
Ganesh yadav
(Asst.Accountant)
(61 Points)
Replied 02 September 2009
what is cost audit ? what is point of cost audit at pharma co.
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