no. of audits...

This query is : Open

Ravi Chopra (Querist)
Follow

03 June 2009 i ve confusion,, reagrding maximum limit of companies a ca can audit.. one book its written 30.. another book 45...

Ravi Chopra

Ravi Chopra (Querist)
Follow

03 June 2009 irrespective of pvt or public...

Radheyshyam Falod

Radheyshyam Falod (Expert)
Follow

03 June 2009 The law specified the limits of 20 company audits excluded private companies but the institute has issued a notification restricting the overall limit to 30 company audits including private limited companies. It may be noted that a member who fails to comply with the notification shall be liable for professional misconduct.

And the limit of 45 audits is for tax audits u/s 44AB of the Income Tax Act

Ravi Chopra

Ravi Chopra (Querist)
Follow

03 June 2009 bt i just contacted sum ca... they said in 2007 it has been raised to 45.. any notification in ur regards to evident tht ??

Radheyshyam Falod

Radheyshyam Falod (Expert)
Follow

09 June 2009 Limit of 45 audits is for tax audits u/s 44AB of the Income Tax Act.
The limit for company audits as per institues guidelines for statutory audit is 30 only.

If he has some notification then let me know. It would be beneficial to everyone out here.

Ravi Chopra

Ravi Chopra (Querist)
Follow

09 June 2009 ok i ll try .. having pcc exams.. will tell latr... i neededd tht fr my pcc exam.. which is over..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now