Ceiling of Audit limit under companies act 1956

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What is the ceiling of audit limit under companies act 1956?

 
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Originally posted by :priti shaw
" What is the ceiling of audit limit under companies act 1956? "


 

as per companies act ,a ca can accept maximun 20 audits of public limited d com of which not more than 10 comapnides which have a paid up capita l of more than 25 lkhas

 
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PRACTISING CA



Ya it is corret and it should be read along with notification no.53/2001 , which indicates that the overall audit ceiling is 30 audit assignments.

 
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(Guest)

YES IT IS RIGHT THAT A CA HAVING CERTIFICATE OF PRACTICE MAY AUDIT MAXM.20 PUBLIC LIMITED CO.BUT HE CAN AUDIT ANY NOS.OF PVT.LTD.COMPANY.

 
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CA



Can any one mail me schedule V part II of the companies act in PDF format or provide the link to download

thanks ramesh

 
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abhi ki limit kya hai

 
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CA in Practice



As per institues guidelines in notification no. 53/2001 the total statutory audits of an individual member should be 30


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articles



celling under companies act 1956 : for individual practicing 30 audit assignments whether it is private or other companies.as per the notification of the council  undar companes act 13-12-2000 an indivudual or partner would have any no of private companies audits.for partnership firm it is 30per partner & among 30audits not more than 10 public company audits which have paid up capital of Rs.25 lakhs or more.

 
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