Audit by KPMG and/or E&Y

Hey Sid,

              As Mr. Rohit Kapoor said they are absolutely firms. I'am aware of the existence of Ernst & Young Private Limited which basically provides management advisory services and many more such kind.

But I would like to make a small correction w.r.t the sections you have mentioned in your post i.e it's u/s 226 which tells you that who has the eligibility to audit, whereas sec 224 is all about appointment of auditor.

Hi Sid,

Please go thru this link. It will help you understand their modus operandi.

https://www.mydigitalfc.com/news/foreign-audit-firms-may-get-full-practising-rights-946

Regards

they are firms

if they are firms then how is it possible that they are having so many no. of partners in their firm

Sid,

they are firms and they are having mutliple partners and associates in their group.

They dont sign all the audits on their own name.

boss dey r audit firms n not company....its a type of partnership firms having partners who are ca having cop n entitled to a share in d profits of d firm for ur ref dey also hv to undergo a peer audit.....so dnt get urself confused....

They are not performing audit by their names as they have multiple firms associated with them like S.R batliboi for EY and BSR & Associates for KPMG and hence the y are performing audit with so many partners.

KPMG has Following member firms in India:

BSR & Co.

BSR & Associates

BSR & Company

BSR and Co.