No. of audit assignments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 May 2011
Till now no. max of audit assignments were 30.
Whether these have been increased to 45.
and is there are segregation for tax audit and co. audit.
also if a CA is conducting the tax audit and the co. audit for the same co., whether this would be 1 assignment or 2.
Whether these have been increased to 45.
and is there are segregation for tax audit and co. audit.
also if a CA is conducting the tax audit and the co. audit for the same co., whether this would be 1 assignment or 2.
19 May 2011
Company audits and tax audits limit are different.
Tax audits limit was earlier 30 and has been revised to 45 long back.
Tax audits limit was earlier 30 and has been revised to 45 long back.
19 May 2011
The Central Council of the Institute of Chartered Accountants of India (ICAI) has increased the ceiling on the number of tax audit assignments that a chartered accountant can accept in a financial year either as partner or proprietor.
"The ceiling on tax audit has been increased from 30 to 45 per chartered accountant/per partner. Each partner can undertake 45 tax audits".
"The ceiling on tax audit has been increased from 30 to 45 per chartered accountant/per partner. Each partner can undertake 45 tax audits".
19 May 2011
The limits for signing the tax audit assignments is 45 per member and not per firm. In case of a company, the statutory audit shall not have bearing on the tax audit limit. There is different limit for statutory audits, it is 30 per member.
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