we are a chartered Accountacy firm acting as internal auditor of an holding company. i want to know whether can v do the external audit of its subsidiary. reply is expected urgently pls..
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Audit Status
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as per provisions of the companies act 1956 thre is no expressed provisions that an auditors of the susidiary co can not be auditors of subsidiary co,. hence u are prima face eligible for auditor of subsi com
Mr Prakash Can u please be clear as to what you are trying to express .
Mr Prakash Can u please be clear as to what you are trying to express .
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no statutory and internal auditor cannot be the same person. Even though subsidiary co. has its separate legal entity but still above sentence holds true so external and internal auditor must be 2 different persons
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