auditing
This query is : Resolved
29 July 2009
Can a CA be appointed as a Statutory Auditor of the bank of whose he is Holding a CREDIT CARD whoes credit limit is Rs.500000.
Ankur Garg
(Expert)
29 July 2009
Hi,
I don't think there is legally any issue. However it is advisable to avoid such appointment.
Views of other Experts solicited.
Regards
I don't think there is legally any issue. However it is advisable to avoid such appointment.
Views of other Experts solicited.
Regards
29 July 2009
Sir, thanks for the reply. but is he not diqualified under company Act. As he is owing to the bank a sum 0f Rs. 1000.
Manmohan ACA, CS
(Expert)
29 July 2009
No, if a person had overdraft balance with bank or has credit card due, for more then 1000 he is disqualified for appointment as auditor of such company u/s 224.
30 July 2009
thanks for the reply. but suppose he did not use his credit can he b appointed
Manmohan ACA, CS
(Expert)
30 July 2009
If he didn't use the credit card then he can be apponted . The C' act permits the same
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- Employee secondment
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Rent agreement of House of deceased person
- TDS Return Statement Status
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- Upload Level ValidationITR3Category of Defect B/D
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- MSME Payment Sec.43B (h)
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
