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Ca act 1949

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clause 8 of second schedule of the act states that : a ca in practise will be held guilty if he fails to obtain sufficient info which is necessary for expression of an opinion or its EXCEPTIONS ARE SUFFICIENTLY MATERIAL TO NEGATE THE EXPRESSION OF AN OPINION.. Kindly explain the line in caps
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a CA should express his opinion on the truth & fairness of statements of a/cs  after examining their authenticity, with reference to information & explanation given to him,,

ca should nt express his opinion without obtaining the required data & information,,,,

 

"EXCEPTIONS ARE SUFFICIENTLY MATERIAL TO NEGATE THE EXPRESSION OF AN OPINION."

MEANS.....

QUERIES WHICH MAY RESULT INTO NULLIFYING THE ORIGINAL OPINION OF AUDITOR AND GIVING A  QUALIFIED OR ADVERSE OPINION...

I HOPE IT IS CLEAR NOW.

THANKING YOU,

DRP

thanx .. Ya its clear now :-)

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I want to know whether I can take full time COP if I m working as a employee in a ca firm? so that after 5 year of practice, i can become FCA

Respected saurabh sir,

if u want to be an FCA then u have to be a partner in the firm in which u are working as a ca employee.

Because, ca can hold cop only if he/she wants to do public practice. In employment u will not be taking crucial decisions but as a partner u will have to do so and that's what ICAI wants... INDEPENDENCE.

So u need to be a partner or a prectitioner compulsorily. (as per council's general guidelines)

Thank you.


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