One Practicing CA whose father is working in a private company as Accounts Dept head .But his father is not holding any KMP post neither he is a Director in that private company .can that CA or any other partner of the same firm accept the appointment as statutory auditor of that pvt company? Any disqualification attracted under section 141(3) or Second Schedule Part I Clause 4 of the CA Act 1949
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Auditors Disqualification of A Practicing CA
Replies (2)
Yes, because he is not KMP as per Companies Act
As a best practice, CAs should document their assessment of independence and ensure no conflicts of interest are perceived in the performance of their duties as auditors.
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