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Audit of co operative societies

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(Querist)
07 September 2017 Can a CA do statutory audit of co operative housing society in which his relative (blood relation) is a member?

Will question of substantial interest attracts in such case as society runs on co operation basis and not on profit basis and also his relative holds only one share out of 141 shares in said society? will it considered as a professional misconduct as per ICAI rules?

Thank you.
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Amol S Joglekar

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Amol S Joglekar (Expert)
07 September 2017 CA can do the audit in such case.
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