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Doing audit and signature by non-ca person
Could someone suggest me, What will be penalty if a non CA person is doing audit or doing signature on the audit report. Under which section and ACT this fraud is covered.
Replies (3)
Audit can be conducted by a person who is not a CA. The fraud need not be covered under any section. Only who are CAs are allowed to sign under VAT, Income Tax Act and Companies Act. If someone else sign, he can eat free food issued by the government under Indian Penal Code.
Thanks for you reply,
And do have knowlede of section number. Or any penalty under CA act (seciton)
I don't think they need to mention it in the Chartered Accountants' Regulations. They are applicable to members. And to an extent to students also. Here the victim is someone outside the box. That's why I told you that, it may come under Penal Code.
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