If i have a Practising ca Firm and i want to do audit of my brother's business which is in the form of a Company or a showroom, is it allowed considering all the aspects??
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Audit
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As per sec.141(3) of the companies act, 2013, a person whose relative is a director or is in the employment of the company as a director or key managerial personnel, cannot be appointed as an auditor of that company
Accordingly, in your case it attracts disqualification
As per sec.141(3) of the companies act, 2013, a "person" whose relative is a director or is in the employment of the company as a director or key managerial personnel, cannot be appointed as an auditor of that company Accordingly, in your case it attracts disqualification
That is true for a company but if it is a showroom or a shop, then?
Then there is no restriction. Income tax and other acts are silent on this as per my knowledge. However, refer icai guidelines whether it allows.
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