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Can an ACCA practice in foreign countries?

Open uri20170510 32134 1k0mj0y?1494421740 praveen kumar asked about 3 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered almost 3 years ago

If you want to do a statutory audit then you need to have a tie up with a CA firm who can take the audit in it’s name and attest the audited balance sheet in its name. The only reason they will give you such assignment is because they will not have the sufficient manpower to conduct the audit. So they will charge some commission and delegate you the audit.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Anis Parbatani answered about 3 years ago

An ACCA is not authorised to attest the financial statements in india. Only a CA can do that. However you can establish your practice in other countries which allow you to do that. I am talking in context of statutory audits. You can always do internal audit in any company who allows you to do that. If you want to do a statutory audit then you need to have a tie up with a CA firm who can take the audit in it’s name and attest the audited balance sheet in its name. The only reason they will give you such assignment is because they will not have the sufficient manpower to conduct the audit. So they will charge some commission and delegate you the audit. But it will be a hard task for an ACCA as there are so many practicing firms and even if they want to delegate they prefer a CA firm over an ACCA firm. ACCA is yet to gain that recognition in india which it deserves. I hope my answer solved your query.

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