Difference in scope of statutory audit and tax audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2012 what is the scope of statutory audit and tax audit and what is the difference between the same
can a co.appoint two different auditor i.e one each statutory and tax auditor
how i will compute the ceiling limit in this case
as per ICAI GUIDELINES the ceiling limit of audit is 45.can any one explain this how much co audit and tax audit a ca can sign.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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23 August 2012 Technically Its Not That Much Difference.
Company Can Appoint Diffn Auditor for Both.
A CA Can do 45 Tax Audits.
But Co Act Ceiling Limit of 30 (Not Exceed 20 Public Company >25Lacs)
Read Both Separatelly.

Means CA Cant Braek Any of The Rule.
The Worst Case Will Be Applicable to CA.
as Per CA Act
A Per Co Act

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2012 it means if i m auditor of a co
(whether pvt or public ) and i appointed as tax auditor ,then will it not counted in my co. audit limit or tax audit

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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24 August 2012 It Will Counted in Tax Audit 45 Limits
It ill also Counted in Companies act defination 30 limits both

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