Question ID :
44789
FCA is Director require Special permission
A practicing CA who is FCA, and he is having directorship in 4 companies as whole time director what are the implication as per ICAI ACT and how to intimate to ICAI and whether he can continue authentication or not
Posted by
DEEKSHA GARG
on
Feb 03, 2025
Filed Under
AUDIT
A practicing CA cannot be wholetime director...that too of 4 companies.....disciplinary action can be taken by ICAI
Posted by
SIVADAS CHETTOOR on
Feb 06, 2025
Answer ID :
85659
A practicing CA cannot become a whole-time director in a company. Before becoming whole time director, he/she must surrender his CP. He/She can be a independent director or a non-whole-time director.
The company of whom he/ she is even a nonwhole time director, he cannot do the audit of that company. His partner/s can do the audit, but they have to disclose in their auditor's report about their partners directorship.
Posted by
CA. JHA SHANKAR KUMAR on
Feb 11, 2025