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Question ID : 43314

082701

Can A CA sign Compiled Balance sheet without Audit of His brother and nephew .

Posted by Mahesh Kumar on Jun 24, 2022

Filed Under AUDIT

Answer ID : 81535

As per the Chartered Accountants Act, a CA will be guilty of professional misconduct if he expresses his opinion on financial statement of any business or enterprise in which his relatives have substantial interest Hence CA cannot sign complied balance sheet of his brother and nephew.

Posted by CA. chunauti dholakia on Jun 24, 2022
Answer ID : 83555

Every one is client for him and as a professional he has to do necessary diligence before signing the financial statements. However, as the client is relative , hence in the interest of the profession he must refrain from signing of the financial statements.

Posted by CA. JHA SHANKAR KUMAR on Aug 01, 2022