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ShrutiShruti asked 9 months ago
1 Answers
RaviRavi Staff answered 9 months ago

Ethical Standard Board – ICAI clarification says
A Chartered Accountant in practice is not permitted to accept audit assignment of a bank in case he has
taken loan against a Fixed Deposit held by him in that bank.

so even if its against FD which is safest and good security, then in other cases for sure CA won’t be able to audit. not allowed as per ESB clarifications. If it’s for business or profession even Sec 141(3) disqualifications will also get attracted under business relationship.

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