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Stock audit of a bank. whether to accept or not?

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Guest (Querist)
15 July 2013 Dear Sir,

I am a member in practice. I have obtained a mortgage loan from a bank. I want to know whether I can accept appointment as the stock auditor of the same bank. In stock audit the auditor is required to express opinion on the financial statements of the borrower i.e. party of the bank. Stock auditor is not required to express opinion on the financial statements of the bank. So this is not a violation of the professional ethics in my opinion.

Kindly provide your opinion on the matter.

Thanking you.
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
19 April 2017 Very Old Query need to be closed now
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