Code of ethics

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2012 I, as a practicing CA, have given my commercial property on rent to a private limited company.I want to audit its books of accounts. Can I do it? Guide as per Code of ethics of ICAI.Reply asap.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 December 2012 Ethically you should not go for such audit. (Ofcourse you can disclose your interest viz. landlord for so and so property and then accept the audit without having any scratch on code of ethics.) Materiality is another key area in this. Say rent INR 120000 per annum and audit fees INR 25000..... Better not to accept the audit. If it is other way round.... accept subject to disclosure.

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