Disqualification of audit firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 May 2014
Can an employee of an audit firm be a shareholder of the company for which the same firm carries out audit.
24 May 2014
Employee can be a shareholder provided:-
He declares his shareholding
He does not audit the company in which he is holding shares. This means he can audit other clients of the audit firm.
In short, no sudit team member can hold any shares in the company they are auditing.
He declares his shareholding
He does not audit the company in which he is holding shares. This means he can audit other clients of the audit firm.
In short, no sudit team member can hold any shares in the company they are auditing.
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