Section 141 and 143

Questions › Category: Co. Audit - I › Section 141 and 143

Jaspreet Singh asked 3 years ago

1.(i) Sir, 141(3)(f), the relative of the auditor is in employment of the company as an employee. Is the auditor liable for disqualification?
(ii) If the relative of auditor of the company is in employment of company’s holding company, will the auditor be liable for disqualification?
2. Difference between propriety matters and other matters under section 143? Are propriety matters to be reported only if the answer to any of the matters stated therein are in adverse while other matters under section 143(3) to be reported under all circumstances?

1 Answers

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Ravi Staff answered 3 years ago

Disqualification will be attracted only if he holds post of KMP, just post of employee wont attract disqualification
Same answer as given in point 1
Auditor has to report on all matters of 143(3), unless not applicable, it is mandatory