yes, a CA can be partner in two or many  firms at a same time but his audit is up to his limit of cellings,he can audit 10small companies and 10 big companies(audit limit aplicable for govt companies only),his partnership should be up to the limit of cellings....there is no limit of cellings for audit of private companies,

Hi Sweta...ya a CA can be partner in many firm...their is no restriction in charterd Accountants Act....n ya for this provision we have 2 see code of ethics......because resriction levied By icai...not  by compnies act...        and in ca Act.....no such provision  is prevail..so A ca Can Be Partner in Many Firm...but ya No. Of audit will Be Calculated Invidually.....

yes, a CA can be partner in two firms at d same time but subject to ceiling on limit of no. of auit.
According to sec 224(1B) of Companies Act, 1956,   a person can be appointed as an auditor, who is not in full employment elsewhere or u can say auditor in two more than two firms can conduct maximum of audit of 20 companies subject to sub ceiling of 10 for companies having paid up capital of Rs. 25 Lacs or more.
But dis rule applies only to Public Companies. an auditor can conduct any no. of audits for private companies.
no ceiling for private companies.yes, a CA can be partner in two firms at d same time but subject to ceiling on limit of no. of auit.
According to sec 224(1B) of Companies Act, 1956,   a person can be appointed as an auditor, who is not in full employment elsewhere or u can say auditor in two more than two firms can conduct maximum of audit of 20 companies subject to sub ceiling of 10 for companies having paid up capital of Rs. 25 Lacs or more.
But dis rule applies only to Public Companies. an auditor can conduct any no. of audits for private companies.
no ceiling for private companies.

Hi Sweta,

All our friends said was correct  “A CA can be a partner in more than one firm". His/her celing limit will be counted individually and not firm wise. There is no ceiling for the audit of pvt ltd. companies as per Companies act but according to ICAI notification 53/2001, a CA can do audit of 30 companies including pvt ltd companies. Addition to the sections of companies’ act this will also applies. For your reference here is the notification.

NOTIFICATION (Chartered Accountants)

No. 1-CA(7)/53/2001: In exercise of the powers conferred by clause (ii) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he holds at any time appointment of more than the "specified number of audit assignments" of companies under Section 224 and/or Section 228 of the Companies Act, 1956.

Provided that in the case of a firm of chartered accountants in practice, the "specified number of audit assignments" shall be construed as the specific number of audit assignments for every partner of the firm.

Provided further that where any partner of the firm of chartered accountants in practice is also a partner of any other firm or firms of chartered accountants in practice, the number of audit assignments which may be taken for all the firms together in relation to such partner shall not exceed the "specified number of audit assignments" in the aggregate.

Provided further where any partner of a firm or firms of chartered accountants in practice accepts one or more audit of companies in his individual capacity, or in the name of his proprietary firm, the total number of such assignments which may be accepted by all firms in relation to such chartered accountant and by him shall not exceed the "specified number of audit assignments" in the aggregate.

Explanation:

1) For the above purpose, the "specified number of audit assignments" means -

1.

in the case of a chartered accountant in practice or a proprietary firm of chartered accountant, thirty audit assignments whether in respect of private companies or other companies.

2.

in the case of chartered accountants in practice, thirty audit assignments per partner in the firm, whether in respect of private companies or other companies.

Provided that out of such "specified number of audit assignments, the number of audit assignments of public companies each of which has a paid-up share capital of rupees twenty-five lakhs or more, shall not exceed ten.

2) In computing the "specified number of audit assignments" -

1.

the number of audit of such companies, which he or any partner of his firm has accepted whether singly or in combination with any other chartered accountant in practice or firm of such chartered accountants, shall be taken into account.

2.

the audit of the head office and branch offices of a company by one chartered accountant or firm of such chartered accountants in practice shall be regarded as audit assignment.

3.

the audit of one or more branches of the same company by one chartered accountant in practice or by firm of chartered accountants in practice in which he is a partner shall be construed as one audit assignment only.

4.

the number of partners of a firm on the date of acceptance of audit assignment shall be taken into account.

5.

A chartered accountant in practice, whether in full-time or part-time employment elsewhere, shall not be counted for the purpose of determination of "specified number of audit of companies" by firms of chartered accountants.

3) This notification shall come into force from the date of its publication in the Official Gazette.

4) A chartered accountant in practice as well as firm of chartered accountants in practice shall maintain a record of the audit assignments accepted by him or by the firm of chartered accountants, or by any of the partners of the firm in his individual name or as a partner of any other firm, as far as possible, in the following format:
S.No. Name of the Company Registration Number Date of Appointment Date of Acceptance Date on which Form 23-B filed with Registrar of Companies
1 2 3 4 5 6

yes 

A ca can be partner in more than 1 CA firms

Its Ok that one can be a partner in many firms, but in  that case he should act as a full time partner in one firm and part time in others. So What should be the case in such a scenario can a CA be full tme partner in two firms

i agree with aroa

hello friends! please tell me "Can a CA become Active Partner (full time partner) in two or more firms?"