WebA concurrent auditor of a bank ‘X’ cannot be appointed as statutory auditor of bank ‘Y’, which is sponsored by ‘X’. 34. A CA/CA Firm can act as the internal auditor of a company & statutory auditor of its employees PF Fund under the new Companies Act (2013). 35. WebApr 28, 2024 · In my opinion Statutory Auditor / Tax Auditor of a company cannot act as GST Auditor of the company. Attention is drawn to Section 71(2) of CGST Act ; the audit party deputed by the proper officer or a cost accountant or chartered accountant nominated under section 66, shall be made available on demand the following records / documents …
Statutory Audit: Statutory Auditor, Concepts and Question
WebMar 19, 2024 · • There is no statutory requirement of audit of a firm under the provisions of Partnership Act, 1932. So, appointment of two auditors one as tax auditor and another as statutory auditor does not appears to be correct. WebA. The Stock Audit and Statutory Audit are not permissible to be done simultaneously since Stock Audit is kind of management function, which cannot be done simultaneously with the Statutory Audit (whether pertaining to the same branch of different branch). Q.8 Whether the Concurrent Auditor of a Bank can accept Tax audit of the same Bank? A. cyclops raptor
22.4.2024 Re. FAQs relating to professional Ethics of members ...
WebSep 29, 2024 · An internal auditor of an enterprise cannot undertake GST audit of the same entity, the CA Institute has said. This clarification comes in the wake of queries raised by stakeholders as to whether ... WebDec 1, 2024 · Statutory audits ensure tax compliance by researching and reviewing accounting systems and tax control units in order to reduce taxes. A statutory auditor’s responsibilities include maintaining necessary tax documentation, assisting businesses with tax returns, and preparing tax audit reports. WebAns: To be eligible as a statutory auditor, the person must be a Chartered Accountant, i.e. a member of the ICAI. In case of a firm, the majority of its members must be chartered accountants in their own right. Then the firm can be eligible to be in charge of a statutory audit of a company. Browse Types of Audit cyclops rally light dr650