I give below Section 144 of the New Companies Act, 2013 which stipulates that the Statutory Auditors cannot provide certain services (see below "a" to "i")
In this connection my query is whether the statutor auditor can provide tax audit services to the company. Whether providing tax audit servics will attract Sec 144(i) of the New Act.
144. An auditor appointed under this Act shall provide to the company only such other services as are approved by the Board of Directors or the audit committee, as the case may be, but which shall not include any of the following services (whether such services are rendered directly or indirectly to the company or its holding company or subsidiary company, namely:— (a) accounting and book keeping services; (b) internal audit; (c) design and implementation of any financial information system; (d) actuarial services; (e) investment advisory services; (f) investment banking services; (g) rendering of outsourced financial services; (h) management services; and (i) any other kind of services as may be prescribed
18 September 2014
"any other kind of services as may be prescribed" means prescribed time by time through circulars/notifications. Right now only a to h are specifically prescribed. So, a statutory auditor can provide tax audit services.
Above mentioned opinion is my personal view and interpretation of law, as such there are no case studies referred.
CAclubindia
