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Auditor Disqualification

Final 142 views 6 replies

mohan gaikwad

student

25 Points Joined October 2015

Is auditor Disqualify from appointment in the company if relative of auditor holds security more than Rs.100000 in subsidiary/associate/Holding of company. please reply.

Replies (6)

A.Kishore Kesav

810 Points Joined January 2018

Yes.... u r right

Krishna Jha

14 Points Joined October 2016

yes right f.v 100000/-

mohan gaikwad

student

25 Points Joined October 2015

Thanks both of you.....

A person can not be appointed Auditor of a company he, or his relative or partner is holding any security of or interest in the company or its subsidiary, or of its holding or associate company or a subsidiary of such holding company:

Provided that the relative may hold security or interest in the company of face value not exceeding One Lakh.