Audit of a subsidiary co. located in British Virgin Island

This query is : Resolved

Bhupendra (Querist)
Follow

04 June 2010 I have a client which is listed on Bombay Stock Exchange and which have a wholly owned subsidiary company located in British Virgin Island. As there is no statutory requirement of audit in British Virgin Island the accounts of the subsdiary is not audited there. But for consolidation purpose we require the audited accounts of the subsidiary company.

So my question is can a Indian CA audit the accounts of the subsidiary comapny which is located in British Virgin Island ?

If yes than whether the indian CA is required to issue the audit report as per CARO 2003.

Please advise.

Thanks and Regards
Bhupendra Gandhi

Ca Aashish Upadhyay

Ca Aashish Upadhyay (Expert)
Follow

05 June 2010 Dear Gandhi ji
I will start the answer in affirmative ...! if its is fesiable enough for the Co. to get its account audited for the remote branch the auditor may carry out the auidt. If however there happens to be any practicle difficulty...then the auditor may suitably qualify the report..that he has not performed the audit for that br. and admitted the figure submitted by the Branch....!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hanuma Yanduri

Jai Solanki

George Innocent

Ravikumar

sandhya.v

Subscribe Now

Audit of a subsidiary co. located in British Virgin Island

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

CA Final

Accountant

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY