Can a ca in practice become a director in private limited co
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2014
Dear Experts, kindly assist me and let me know whether a chartered accountant in practice can become a director in a private limited company. and if so possible than what legal processor should be followed by him. looking forward to hear from you all soon.
Thanks & Regards
Thanks & Regards
01 May 2014
The Ethical Standards Board, at its 115th Meeting held on 23rd April, 2011 after discussions decided that a CA in practice can be a ‘Director Simplicitor’ , which includes an independent director. The independent directors are part of the Board where the Accounts are approved , they being party to approval of financial statement. As such, there is no bar in their signing the financial statement. However, they can not be involved in the day to day affairs of the company.
See below link--
https://www.icai.org/post.html?post_id=7845
See below link--
https://www.icai.org/post.html?post_id=7845
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