QuestionsCategory: Co. Audit - Iif partner A of firm ABC has business relationship with company, then B and C and firm are disqulaified or not to be appointed as auditor. ?
Auditaudit Staff asked 8 years ago
1 Answers
Adminadmin answered 8 years ago

If Mr A had business relationship then he is disqualified and firm in which he is partner will be disqualified.

B and C can do audit on individual basis as per literal interpretation of law.

But just to be more cautious we may reject such assignments.