Ceiling limit on audits under companies act 2013
This query is : Resolved
05 April 2014
What is the new ceiling limit specified for number of audits by a Chartered Accountant in practice, in Companies Act, 2013? Please give me the reference if possible....
SHAKTI JINDAL
(Expert)
05 April 2014
As per section 141(3)(g), a person who is in full time employment elsewhere or a person or a partner of a firm holding appointment as its auditor, if such person or partner is at the date of such appointment or reappointment holding appointment as auditor of more than 20 companies... shall not be eligible for appointment as an auditor of a company. This means the limit is 20.
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