Authorization

If a Chartered Accountant does Income Tax audit and Financial figures certification of his own father's business establishment and also the said Chartered Accountant is Authorised Signatory of his father's same business establishment.Then which professional misconduct restricts the Chartered Accountant to do the above mentioned activities . Please advise

Replies (2)
Quick Summary
This discussion explores whether a Chartered Accountant (CA) commits professional misconduct by auditing their own father's business, especially when the CA is also an authorised signatory for that business. The consensus suggests this scenario likely violates professional ethics, specifically referencing Clause 4, Part 1 of the Second Schedule of professional ethics, which restricts CAs from undertaking related party assignments.

Seems like CA can not do any related party assignments

It is a misconduct as per clause 4 part 1 of the second schedule of professional ethics

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