Time period for preserving records for ca
This query is : Resolved
Mohammed Dalal
(Querist)
15 December 2011
Dear Sir/s,
As per ICAI- Council's decision of 1957, A CA should preserve records relating to Audit and other work done by them, routine correspondence and other work and other papers for a Minimum of 10 years.
However,our principle says that the same has been changed to a period of 8 years.
Please help with reference to Council decision and the year, if possible.
Thanks you
As per ICAI- Council's decision of 1957, A CA should preserve records relating to Audit and other work done by them, routine correspondence and other work and other papers for a Minimum of 10 years.
However,our principle says that the same has been changed to a period of 8 years.
Please help with reference to Council decision and the year, if possible.
Thanks you
18 December 2011
hello dalal g, as per Statement on quality control 1, a ca is required to maintain working papers for a period of 7 years.
rgds,
CA Jatin Bansal
Chandigarh
rgds,
CA Jatin Bansal
Chandigarh
Mohammed Dalal
(Querist)
19 December 2011
Dear Sir
As per Standard on Quality Control 1 point 83, it is mentioned that the retention period ordinarily is no shorter than 10 year.
Can you please mention any reference in the said standard regarding 7 years?
As per Standard on Quality Control 1 point 83, it is mentioned that the retention period ordinarily is no shorter than 10 year.
Can you please mention any reference in the said standard regarding 7 years?
Dhirajlal Rambhia
(Expert)
23 July 2023
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