Audit Urgent Query

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Himanshu

Student

30 Points Posted on 09 July 2010

Hello,

I'm Himanshu, an IPCC student. I've a query regarding eligibility of a person to get appointed as a Auditor in a company. Seeking your reply to this Question as soon as possible.

Q. There are 4 partners in a firm. All of them are Chartered Accountant by profession. Three out of them have Certificate of practice(COP). Can a company appoint the whole firm as its auditor, if the fourth partner:

(a). Does not have a Certificate of practice(COP).

(b). Is a CA in Australia and has a COP of that country.

(c). Is not a CA, but a MBA.

(d). Is not a CA, but a MBA in Australia.

Replies (10)

Arpit Sharma

CA Final & CWA Final Student

139 Points Posted on 09 July 2010

Dont Tell me k you are student of siddharth classes bhopal

RAKESH

Almost CA

1868 Points Posted on 09 July 2010

he need to have a cop for becoming a partner in a firm otherwise he cant practice .

Ashish kumar

CA FINAL

36 Points Posted on 10 July 2010

As per sec 226(1) of co. act, 1956 a firm can be appointed as an Auditor if all the partners are eligible

to practice in india. A person is eligible to practice in india , if he is a C. A within the meaning of

CA act, 1949 and holding a certificate of practice.Hence in ur case firm can not be appointed as

an Auditor.

Prateek

B.Com(H) PGDBA CA Final

586 Points Posted on 10 July 2010

hey these questions are from IPCC or Final?

K.K. Soni

Article

38 Points Posted on 10 July 2010

Hi Dear the firm can be appointed as an Auditor if all partners are in Practice

Mayank

Sr.Accountant

155 Points Posted on 10 July 2010

Hi Dear

1The firm can be appointed only if all the partners have the certificate of practice in india.

2.If an outsider want to practice in india he has to paasout some exams as declared by the ICAI then he can do practice in india.

Byeeeeeeee

Anil Kumar Meena

Assistant Manager

264 Points Posted on 10 July 2010

i am agree with above replies

venkateswarlu.

CA Final

79 Points Posted on 10 July 2010

answer to the following questions as follows

1. to appoint the auditor ca must hold certificate of practice, if not he did not appointed as auditor of the company.

2.to appoint the auditors there must be a Member of institute of CA of INDIA.

MBAs, and CA of Other Countries are not be appointed as auditors

Guest

Posted on 10 July 2010

Originally posted by : venkateswarlu.
	answer to the following questions as follows 1. to appoint the auditor ca must hold certificate of practice, if not he did not appointed as auditor of the company. 2.to appoint the auditors there must be a Member of institute of CA of INDIA. MBAs, and CA of Other Countries are not be appointed as auditors