Question ID :
40484
Conversion of a Proprietorship CA Firm to a Partnership Firm
Hi All, I Am A Chartered Accountant Started Practice In 2011 In Proprietorship Concern And Having Trade Name Registered Under ICAI .
My brother Qualified As CA recently and We Want To Convert My Proprietorship Firm Into Partnership Firm Without Changing The Trade Name As Registered In ICAI. My firm is a statutory auditor of a listed company.
My Question Is
1) Whether Proprietorship Experience Is Continued In Partnership Firm ..??
2) Whether The Experience Will Count For Bank Audit Empanelment Under Partnership Firm..??
3) Whether does it in anyway affect my firm continuance as a statutory auditor of the listed company?
3) Whether Can I Proceed With This Conversion,
Kindly Suggest Me.
Thanks in advance
Posted by
Arun A
on
Nov 27, 2019
Filed Under
MERGER & ACQUISITION
If the trade name of proprietorship firm is continued in partnership firm, experience of proprietorship firm will be considered in partnership firm and will be counted for bank audit. It will not affect to your current empanelment in company. But intimation of conversation of proprietorship firm into partnership firm should be given to company. Requisite form for conversion should be filed with ICAI .
Posted by
CA. chunauti dholakia on
Nov 27, 2019