1.44     Query

Certification of Accounts by an Employee

Chartered Accountant

  I am an associate member of the Institute of Chartered Accountants of India since 1953.  I am eligible to a certificate of practice and also to become a Fellow of the Institute.  I have been employed as an associate treasurer in a Medical Institution.  The institution is receiving some grants from abroad which are earmarked for certain research projects.  Therefore, the institution is required to render at periodical intervals several statements of accounts, detailed receipt and payment and income and expenditure.  These statements are to be certified by a Chartered Accountant.

   I require advice as to whether I, after becoming a fellow member of the Institute of Chartered Accountants of India, and after obtaining a certificate of practice from the Institute, am entitled to audit these statements and certify them as a chartered accountant.

                                                            Opinion                                                January 16, 1978

  As per the Code of Conduct, a chartered accountant in employment is precluded from certifying the financial statements of the concern in which he is employed even if he is holding a certificate of practice.

___________________________