Relative audit
CA. Vijay Agrawal (Chartered Accountant in Practice) (35 Points)
27 September 2014CA. Vijay Agrawal (Chartered Accountant in Practice) (35 Points)
27 September 2014
Divya Sethi
(ca student)
(459 Points)
Replied 29 September 2014
I think Income Tax allows but ICAI dont allow. CA cannot express his opinion on the financial statements of the enterprise in which his relative have substantial interest untill he discloses such interest in his Audit Report.
CA. Vijay Agrawal
(Chartered Accountant in Practice)
(35 Points)
Replied 29 September 2014
CA. Vijay Agrawal
(Chartered Accountant in Practice)
(35 Points)
Replied 29 September 2014
Divya Sethi
(ca student)
(459 Points)
Replied 29 September 2014
Pratik Rana
(CA)
(22 Points)
Replied 30 September 2014
but now as per SA, CHARTERED ACCOUNTANT can't give opinion whether they disclose or not...
CA. Vijay Agrawal
(Chartered Accountant in Practice)
(35 Points)
Replied 30 September 2014
kanh singh
(CA Article)
(121 Points)
Replied 05 October 2014
I think a CA can act as tax auditors for his relatives, there is no restriction for the same other than in case of company.
CA. Vijay Agrawal
(Chartered Accountant in Practice)
(35 Points)
Replied 05 October 2014
kanh singh
(CA Article)
(121 Points)
Replied 05 October 2014
The Income Tax Act does not imposes any restriction an audit of relatives, but ICAI imposes certain restriction subject to some conditions..
Details regarding the same is on page no. 15.8 point no 7 in the attached file
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