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Internal audit

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(Querist)
16 May 2008 whether we can accept internal audit of a company where one of the directors or chairman is my relative ? if yes.. whether it has to disclosed in the report....
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Jaina Shah

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Jaina Shah (Expert)
25 May 2008 As per the rules prescribed by AASB, a CA cannot take up Internal Audit of a firm in which his/her relative is a Director,
in which he has substantial interest, in which he is creditor or holds share
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