Santosh ChoudharySantosh Choudhary asked 1 year ago
1 Answers
RaviRavi Staff answered 1 year ago

A loan, or a guarantee of a loan to the professional accountant/any partner of the firm/firm from an assurance client or deposits made by, or brokerage accounts of a firm or a member of the assurance team with an assurance client creates threats to Independence unless; (a) Made within the terms of statutory provisions and guidelines/ guidance notes issued by the Council (b) When assurance client that is a bank or a similar institution, provided the loan, or guarantee/ deposit or brokerage account is made under normal procedures, terms and requirements.

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