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


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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CA, B. Com, NCFM, CPCM


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

 
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Thanks Manish

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

 
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CA, B. Com, NCFM, CPCM


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.

 
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There is no ref. regarding this in CA Act.

 
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Ok

Thanks Manish and Amit

 
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MANAGER (FINANCE & ACCOUNTS)

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

 
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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.


Total thanks : 1 times

 
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ALWAYS READY TO LEARN NEW THINGS

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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yes a CA can be a partner in as many firms as he/she like to become

 
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