Tax audit

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Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2013 Whether a CA can do tax audit of a firm where his father & brother are partner of that firm.?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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27 August 2013 No
as independence of auditor will be compromised

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2013 As per code of ethics it is mention that a Practising member prohibited from expressing his opinion on financial statements of any business or any enterprise in which he, his firm or a partner in his firm has a substantial interest. In this clause they have not mention relative.

Ganeshbabu K

Ganeshbabu K (Expert)
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27 August 2013 Agreed with UMESH Ji

As per ICAI Council Guidelines No.1-CA(7)/02/2008,dated 8th August,2008 which was issued under provisions of CA Act 1949,

Where Some Guidelines given to members of ICAI
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You can refer to Chapter IV where it is guided that Members should not express his opinion on financial statements of any business or enterprise in which one or more persons who are his "relatives" with in meaning of section 6 of companies Act,1956
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Please refer to guidence note on tax audit Appendix IV for more

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2013 Ok.

Thanks.

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