the same. Laxman CAN'T be appointed as statutory auditor of H Ltd. BECAUSE U/S 224 DISQUALIFICATION OF AUDITOR ATTRACT WITH HIM I.E IE ANY AUDITOR HAVE BEEN IN DEBT EXCEEDS OF RS 1000.IT CAN'T BE AUDITOR OF THAT CO. SO IT CAN'T BE AUDITOR OK .
POOOOOOOOOOO UR B. POINT QUESTION HAS NO SENSE IT IS A WRONG QUESTION.
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Dear Arvind,
my question is complete as the same is asked in June 2007 CWA.
https://www.futureaccountant.com/exam-question-previous-papers/cwa-icwa-inter-stage-ii/auditing-june-2007.php
Hi Sudhir DISQUALIFICATION how? for (c) point...
bcoz H is a parent company and S ltd is subsidary company and Ram ows S Ltd Rs 10000/-
HOWEVER LAXMAN is a guarentor he is not in debt so he can b appointed as an auditor...is'nt he!!!
Correct me if I m going wrong.....