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  • Eligibility and qualifications of auditors under Section 141

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    An auditor must be a chartered accountant, a firm where the majority of partners practicing in India are chartered accountants, or a limited liability partnership where only chartered accountant partners can act on behalf of the firm. A company, its officers or employees, or partners or employees of its officers cannot serve as auditors due to conflicts of interest.

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    as per companies act

    Original Title

    Eligibility

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    An auditor must be a chartered accountant, a firm where the majority of partners practicing in India are chartered accountants, or a limited liability partnership where only chartered accountant partners can act on behalf of the firm. A company, its officers or employees, or partners or employees of its officers cannot serve as auditors due to conflicts of interest.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    18 views1 page

    Eligibility and qualifications of auditors under Section 141

    Uploaded by

    johnsondevasia80
    An auditor must be a chartered accountant, a firm where the majority of partners practicing in India are chartered accountants, or a limited liability partnership where only chartered accountant partners can act on behalf of the firm. A company, its officers or employees, or partners or employees of its officers cannot serve as auditors due to conflicts of interest.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Eligibility, Qualifications and disqualifications of auditors (Section 141)

    Qualifications
    1

    A person who is a chartered accountant

    2
    3

    A firm whereof majority of partners practicing in India are qualified for appointment.
    A firm including a limited liability partnership. Only the partners who are Chartered
    Accountants shall be authorised to act and sign on behalf of the firm.
    Disqualifications
    1

    A body corporate other than a Limited Liability Partnership

    An officer or employee of the company.

    A partner or an employee of an officer or employee of the company.

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