12 May 2011
Dear All, Please through some light on this:
There is one holding company suppose X, regd in Singapore. A & B are its subsidiary regd. in India and Japan respectively.
I am the company secretary in A and our directors are willing to appoint me as the internal auditor of B. Is this move correct or there is some legal consequences for this?? Its bit urgent....
18 May 2011
There is no technical guidance on this. But still, there exist no relation between A & B nor in terms of AS-18 Related party transaction neither in terms of Section 299 of CA,1956 therefore, you can be internal auditor of 'B'.
CAclubindia
