M.R.K.PRASAD-Advocate (SELF) 06 December 2012
My colleges are printed visiting cards and displayed name boards as "Auditor and Advocate". Can an advocate also be auditor. They relayed that Auditor is common word used for C.As and also for any person who audits the accounts with the knowledge of commerce but preferably B.Com graduate. Is it right version and is there any legal complications in keeping so.
R K JAIN (Advocate) 07 December 2012
As per secation226 of Companies Act a person shall not be qualified for appointment as auditor of a company unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949) : Provided that a firm whereof all the partners practising in India are qualified for appointment as aforesaid may be appointed by its firm name to be auditor of a company, in which case any partner so practising may act in the name of the firm.
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