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Madhusudan asked 1 year ago

Qn. – Mr. Dhawal, a practicing CA, is appointed as a Director Simplicitor in Gautam Pvt. Ltd. After three year of appointment, Mr. Dhawal resigned as the Director and accepted the Statutory Auditor position of the Company. Is Mr. Dhawal right in accepting the auditor position? Comment with reference to the Chartered Accountants Act, 1949, and Schedules thereto.
Ans. – 
As per the clarifications issued by the Council, a member shall not accept the assignment of audit of a Company for a period of two years from the date of completion of his tenure as Director, or
resignation as Director of the said Company.
But in Answer it is mention that Mr. Dhawal can accept the Directorship of the company as tenure of two years after his resignation is completed.
CA, Dhawal would not be held guilty of professional misconduct under clause 4 of Part 1 of Second Schedule of the Chartered Accountants Act, 1949.
sir, wether he should be guilty or not ? as they accepted as auditor just after resignation of derectorship.  So, they contravene the regulation as mention above. 

1 Answers
RaviRavi Staff answered 1 year ago

it is mistake by icai
they will issue corrigendum for it soon 

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