Question ID :
42301
Statutory Auditor
Can firm be the auditor of PVT LTd company where nephew of Partner of the firm is the promoter/director of the company?
Posted by
arun daga
on
Jun 09, 2022
Filed Under
Companies Act, 2013
IF NEPHEW IS HOLDING SUBSTANTIAL SHARE IN COMPANY THEN NO. (refer section 141 of companies act)
Posted by
CA Shrawan Suthar on
Jun 09, 2022
Answer ID :
81525
Nephew is not covered in definition of relative under Rule 4 of Companies (Specification of definitions details), Rules 2014. Hence there is no restriction to the firm in conducting audit of such company.
Posted by
CA. chunauti dholakia on
Jun 09, 2022