qualification of auditor
This query is : Resolved
20 July 2008
hi,
I hv read in audit book about a firm having all partners as CAs(1949)& practising in India, in this case auditing may be done by partners under the firm name So, my ? is that " is partner of that firm can do auditing individually without under the firm's name?
I hv read in audit book about a firm having all partners as CAs(1949)& practising in India, in this case auditing may be done by partners under the firm name So, my ? is that " is partner of that firm can do auditing individually without under the firm's name?
Saurabh Aggarwal
(Expert)
21 July 2008
The provision is actually --
"Audit can be done by a Chartered Accountant practising in India OR by a firm whose all partners are chartered accountants"
and hence, the partners can do the audit in the firm name
and also
in their OWN INDIVIDUAL CAPACITY BEING A CHARTERED ACCOUNTATNT, But they must have a valid Certificate of Practice.
"Audit can be done by a Chartered Accountant practising in India OR by a firm whose all partners are chartered accountants"
and hence, the partners can do the audit in the firm name
and also
in their OWN INDIVIDUAL CAPACITY BEING A CHARTERED ACCOUNTATNT, But they must have a valid Certificate of Practice.
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