Starting auditing firm

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Antony B Adaikalam (Querist)

19 September 2014 Is it possible to a auditing firm by non practicing CA?

If yes, what is procedure to start auditing firm like Deloitte or KPMG.

Nikhil Kaushik

Nikhil Kaushik (Expert)

20 September 2014 1. no. you need to have atleast one practicing as partner.

2. every firm be it deloitte or KPMG has member firms with practicing CAs as partners

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Antony B Adaikalam

Antony B Adaikalam (Querist)

20 September 2014 Thank you Nikhil Kaushik...

If three partners started LLP and out of one is CA, then is it possible to work as auditing firm?

If yes, what is procedure???? And how we can add other firm as partner as like Deloitte do it (in terms of legal).

Nikhil Kaushik

Nikhil Kaushik (Expert)

20 September 2014 as per companies act 2013 you can do auditing work

see what deloitte do is that it allows CA firms to use its name. That is all. There is no interlinking between deloitte and other firm in relation to auditing...

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Antony B Adaikalam

Antony B Adaikalam (Querist)

24 September 2014 Thanks Nikhil

I need further clarification:

For example 3 Partners in a LLP - one is completed MBA and other two is CA qualified. Is it possible to this LLP as a auditing firm. If possible give me notification reference.

And if possible share me business model of Deloitte...

Thanks in advance

Nikhil Kaushik

Nikhil Kaushik (Expert)

24 September 2014 for first part, refer section 141(2) of the Companies Act 2013.

with regards to second part, the model of all consultancy firms is a complicated cris-cross of network firms which have independent legal identity but share common branding and resources

Nikhil Kaushik

Nikhil Kaushik (Expert)

24 September 2014 refer https://public.deloitte.com/media/0564/5_1_organization_structure.html

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