There is a Company ABC. It has three subsidiaries 1, 2 & 3.
XYZ is Internal Auditor of Subsidiary 2.
QUESTION
Can XYZ be Statutory Auditor of any other Subsidiary say 1 or 3?
I would be grateful if you can support your answer.
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Can Internal Auditor be Stat Auditor of other Subsidiary
Replies (1)
no he can not be appointed as statutory auditor...
because as per sec 226(3) of the companies act,1956, a person can not be appointed as auditor of a company if he is disqualified from appointment as auditor of any of its subsidiary or holding co..
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