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Solutions which can’t be provided by Statutory Auditors
As per SEC 144 OF THE COMPANIES ACT 2013 Auditor need to not render the following services to the customer where he is designated as the statutory auditor. Usually Board of directors and/ or audit committee will choose the services to be supplied by the auditor throughout the duration of his consultation. But these services can not include the following which remain in a such a way that the self-reliance of the auditor gets affected.
| S.No | Provider |
| 1 | Accounting services |
| 2 | Book keeping services |
| 3 | Actuarial services |
| 4 | Internal audit |
| 5 | Any services connected to create & execution of monetary info system |
| 6 | Investment advisory services |
| 7 | Financial investment Banking services |
| 8 | Outsourced fnancial services |
| 9 | Management services |
As per This section not only the auditor himself but the following individuals likewise can not supply the above specified services to a business or its subsidiary or holding business in which that person is selected as an auditor:
In case auditor is a Person
| 1 | His/her loved ones |
| 2 | An entity in which the such individual( auditor) workout substantial power |
| 3 | Any other person gotten in touch with the auditor |
In case an audit company is selected as auditor
| 1 | Partners in their specific capability |
| 2 | Associate of the audit company |
| 3 | Any other entity in which the partners/ audit company works out substantial power |
For the purpose of this section loved ones include:
The term relatives does not consist of the following:
Services mentioned above need to not be provided to the following also:
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