Disqualification of Auditor

Mayank Mehta (Student) (383 Points)

06 January 2009  

 Section 226(3) of the company’s act 1956 specifies that a person shall be disqualified to act as an auditor if he is indebted to the company for the amount exceeding Rs. 1000/- no matter what the case in the advance was taken.

i just want to ask to u all that if the audit firm is indebted not the auditor than what??????? whether the auditor will be disqualified or not??????? what of the co.. is pvt ltd....?????