Source: https://auditguru.in/question/sir-if-ca-certified-a-financial-statement-of-a-co-in-whichever-his-wife-see-director-holding-substantial-interest-then-whether-cl4-part-1-of-second-schedule-and-cl-9-part-1-of-1st-schedule-is-to-be-a/
Timestamp: 2019-10-18 00:04:43
Document Index: 556006603

Matched Legal Cases: ['art 1', 'art 1', 'art 2', 'art 1', 'art 1', 'art 2']

Sir if CA certified a financial statement of a co. In whichever his wife see director holding substantial interest then whether Cl4 part 1 of Second schedule and Cl 9 Part 1 of 1st Schedule is to be applied?? Along with Part 2 cl 1 II schedule adn Sec 141???? - Auditguru
Home » Questions » Sir if CA certified a financial statement of a co. In whichever his wife see director holding substantial interest then whether Cl4 part 1 of Second schedule and Cl 9 Part 1 of 1st Schedule is to be applied?? Along with Part 2 cl 1 II schedule adn Sec 141????
Ashish Makkar asked 1 year ago
but now as per company act 2013, relative having shares and relative being director are covered as disqualification. when icai revised PM they saw it as disqualification under company act , and hence they applied Sec 141 & clause 9 where auditor has to check compliance of company act before acceptance.
in my opinion company act disqualification Sec 141 / clause 9 / clause 4 all the three should be specified while answering.
If there is close relationships with client see Cl 4 & Its clarifications by ICAI apply them then think about company act Sec 141 & Clause 9 if relevant apply them also.
substantial interest means 20% or more
S2 P2 Cl2 will not be attracted. as it is applicable if other clauses dont cover non compliance of ca act , or regulations