07 November 2009
What is the ceiling limit of ana audit by a chartered accountant & how many tax audits can be done by a chartered accountant. PLZ REPLY IMMEDIATELY, IT'S VERY URGENT.
08 November 2009
As members are aware, the maximum limit of Tax Audit for a member in practice, as individual or as a partner in a firm, was fixed at 30 as back as in 1989 with the objective of ensuring quality and equitable distribution of work. In view of fast expanding economy and increase in number of such assignments coinciding with enhancement of professional competence of members to perform quality services in an IT-enabled environment, it was decided to review the maximum Tax Audit limit. As such, the Council of the Institute at its 268th meeting held from 30th April to 2nd May 2007 has decided to increase the Tax Audit limit for practising Chartered Accountants, as individual or as a partner in a firm, from 30 to 45.
10 November 2009
BUT THIS LIMIT IS NOT SUFFICIENT BECAUSE THE FEE IN SMALL CITY OF AUDIT IS MAX RS 3000 AND PERSON MAKE FULL 45 AUDIT ITS HAS RECEIVED FEE 45*3000=135000 ANT ITS METATION OFFICE ALSO SO PL. CHANGE THE LIMIT AND MAKE 100 AUDIT
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