no. of audits...
This query is : Open
Ravi Chopra
(Querist)
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
(Querist)
03 June 2009
irrespective of pvt or public...
Radheyshyam Falod
(Expert)
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
And the limit of 45 audits is for tax audits u/s 44AB of the Income Tax Act
Ravi Chopra
(Querist)
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
(Expert)
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.
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
(Querist)
09 June 2009
ok i ll try .. having pcc exams.. will tell latr... i neededd tht fr my pcc exam.. which is over..
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