https://www.taxtmi.com/forum/issue?id=120657 A chartered accountant should not state that they are "allowed" to audit a foreign entity under host country regulations or that the audit was conducted under those regulations when the subsidiary is exempt from statutory audit and the engagement is a special purpose audit under SA 800 for FEMA/APR. Such assertions are factually incorrect and risk breaching auditing standards and the professional code of ethics. The acceptable approach is to disclose that the audit was performed under ICAI Standards, including SA 800, for the limited purpose of FEMA/APR, and to obtain any host country authorisation confirmation from management or local counsel. en-us Tue, 16 Dec 2025 15:25:56 +0530 Sat, 20 Dec 2025 10:02:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120657 A chartered accountant should not state that they are "allowed" to audit a foreign entity under host country regulations or that the audit was conducted under those regulations when the subsidiary is exempt from statutory audit and the engagement is a special purpose audit under SA 800 for FEMA/APR. Such assertions are factually incorrect and risk breaching auditing standards and the professional code of ethics. The acceptable approach is to disclose that the audit was performed under ICAI Standards, including SA 800, for the limited purpose of FEMA/APR, and to obtain any host country authorisation confirmation from management or local counsel. Discussion-Forum Companies Law Tue, 16 Dec 2025 15:25:56 +0530 https://www.taxtmi.com/forum/issue?id=120657