Appointment of internal auditor as statutory auditor
This query is : Resolved
16 November 2018
P was the Internal Auditor of ABC Ltd and submitted 1st Quarter Audit Report . ABC Ltd is the 100 percent subsidiary of XYZ Ltd. P got offer for appointment in XYZ Ltd as Statutory Auditor. P submitted the resignation in ABC Ltd ( as Internal Auditor) and accepted the offer of Statutory Auditor.
In the capacity of statutory auditor of XYZ Ltd, P will take cognizance of the reports of the Subsidiaries ( including 1st Quarter) though Statutory Auditor of the ABC Ltd is different.
Whether P can accept and conduct the Statutory Audit of XYZ Ltd.?
In the capacity of statutory auditor of XYZ Ltd, P will take cognizance of the reports of the Subsidiaries ( including 1st Quarter) though Statutory Auditor of the ABC Ltd is different.
Whether P can accept and conduct the Statutory Audit of XYZ Ltd.?
23 November 2018
As statutory Auditor of ABC Ltd is different and who is going to review the internal audit report of P for the first quarter, P can accept and conduct the Statutory Audit of XYZ Ltd.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Grand in aid
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
