Interested to Buy Any Domain ? << Click Here >> for more details...
Is there any disqualification of an auditor if he is
Indebted to a partnership firm and proprietor???
- 4 Answers
- 8576 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / lakshmi
if the auditor gives surity to any person for the amount of
rs.1000 he is disqualified as per the companies act 1956.
| Is This Answer Correct ? | 7 Yes | 3 No |
Answer / rajesh96186
when the debt increases 1000 the auditor is disqualified
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / manish shah
NO THERE IS NO DISQUALIFICATION OF AN AUDITOR IF HE IS
INDEBTED TO A PARTNERSHIP FIRM AND PROPRIETORSHIP FIRM AS
THERE IS NO PROVISION IN THE LAW FOR THE SAME. ONLY
PROVISION FOR THE SAME IS FOUND IN THE COMPANIES ACT 1956,
IF THE AUDITOR IS INDEBTED TO A COMPANY FOR RS 1000/-OR
MORE AND HELD SHARES OF THE COMPANY IN WHICH HE IS AUDITOR
FOR MORE THAN RS 1000/- AND THE SAME IS NOT DECLARED THAN
THE AUDITOR IS DISQUALIFIED.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / ramneek
Yes the auditor may be disqualified if he violates the limits given as per applicable law or council general guidelines 2008. Since in case of partnership firms or proprietor firms no limits have been specified by any law which govern them and therefore disqualification will be checked on the basis of limits given in council guidelines 2008 of ICAI.
| Is This Answer Correct ? | 0 Yes | 0 No |
How will you calculate impairment of assets of a software company?what is the necessary steps briefly describe?
what is the accounting entry for fictitious asset
how many years deduct the depreciation amount
which of the following types of risks assumes an absence of compensating controls in the area being reviewed?
Define yourself
35 Answers Banking, College School Exams Tests, Eicher, INCDA, Infosys, Jet Airways, Lupin, Reliance, Safcon, TCS, Vertex, Volvo, Wipro,
can we depreciate land &building and whats the rate of dereciation
There are 9 coins.Out of which one is odd one i.e weight is less or more.
what will you do if you dont get this job
12 Answers Bank Of America, Schlumberger, State Street, Videocon,
Had I imported two items one is custom duty free and another is with custom duty. Whether I can sell the custom duty free item with the custom duty or not.
What is the role of internal audit?
which of the following procedure would auditor lease likely perform in planning a financial statement audit?
What are the importance of internal audit to the organization?
Audit 
