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Can a CA be partner in two firms...?

CA SWETA (Partner) (61 Points)

20 August 2010

Hi friends,

Can a Chartered Accountant be a partner in two or more CA firm? Pls specify the section reference also...?

Thanks

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23 Replies

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 20 August 2010

Yes. A Chartered Accountant can be a partner in two or more CA firm

CA SWETA (Partner) (61 Points)
Replied 20 August 2010

Thanks Manish

pls give the necessary refernce..so that i can read once

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 20 August 2010

I don't know the exact provision of act.

but in Sec. 224(1B) of companies act, ceiling on no. of audit. it is written that ceiling limit shall be counted for all the firms together in which such CA is partner.

CA Amit Kanani (Practicing CA) (338 Points)
Replied 20 August 2010

There is no ref. regarding this in CA Act.

CA SWETA (Partner) (61 Points)
Replied 20 August 2010

Thanks Manish and Amit

CA Navin Jain (MANAGER (FINANCE & ACCOUNTS)) (11768 Points)
Replied 20 August 2010

Yes, A Chartered Accountant can be partner in two or more ca firms

shobha jindal (article) (43 Points)
Replied 20 August 2010

yes, a CA can be partner in two firms at d same time but subject to ceiling on limit of no. of auit.

According to sec 224(1B) of Companies Act, 1956, a person can be appointed as an auditor, who is not in full employment elsewhere or u can say auditor in two more than two firms can conduct maximum of audit of 20 companies subject to sub ceiling of 10 for companies having paid up capital of Rs. 25 Lacs or more.

But dis rule applies only to Public Companies. an auditor can conduct any no. of audits for private companies.

no ceiling for private companies.

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(Guest)

yes, a CA can be partner in two firms at d same time but subject to ceiling on limit of no. of auit.

According to sec 224(1B) of Companies Act, 1956, a person can be appointed as an auditor, who is not in full employment elsewhere or u can say auditor in two more than two firms can conduct maximum of audit of 20 companies subject to sub ceiling of 10 for companies having paid up capital of Rs. 25 Lacs or more.

But dis rule applies only to Public Companies. an auditor can conduct any no. of audits for private companies.

no ceiling for private companies.