No of Companies one CA can sign under Company Act.
This query is : Resolved
31 December 2009
We are the group of 47 Private Ltd. Companies. Pls. tell me how many (Pvt. Ltd.)company audit (Not Tax Audit) one ca can sign ?
31 December 2009
Each individual can conduct audit of 20 companies out of which not more than 10 companies should have capital of rs 10 laakhs or more .... it doesnot include Pvt co's, branch audits etc........ but under CA Act An individual CA cannot conduct Audit of more than 30 companies ... so as to safeguard the proffesional competence
CA.SHAHZAD SAYYED
(Expert)
31 December 2009
Dear Amar
There are 2 types of Audit Restriction
1) Company Audit- the limit given by Co's Act is 20 out of which not more than 10 cos should have paid up Capital more than 10 lacs
2) Tax Audit- The limit given by ICAI is 45 Audit (earlier it was 30 Audit)
The above limit is for Individual Practicing CA
There are 2 types of Audit Restriction
1) Company Audit- the limit given by Co's Act is 20 out of which not more than 10 cos should have paid up Capital more than 10 lacs
2) Tax Audit- The limit given by ICAI is 45 Audit (earlier it was 30 Audit)
The above limit is for Individual Practicing CA
CA Ravi Sisodia
(Expert)
31 December 2009
Agree with Neha, maximum 30 pvt. companie audit you can sign.
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