An audit firm comprising of 2 partners holds office as auditor of 40 private companies out of which paid up capital of 20 companies exceeds 50 lakhs. such audit firm wants to be appointed as an XYZ pvt. ltd. Decide whether this is in consonance with the appicable law.
Menu
Ceiling limit for auditors
Replies (1)
As per MCA Notification dated 05.06.2015, following companies shall be omitted/disregared for purpose of determining limitation of appointment of auditor of twenty Companies:
1. One Person Companies (OPC)
2. Dormant Companies
3. Small Companies
4. Private Companies having paid up share capital less than 100 crores.
Hence they can be appointed as auditors in XY Company.
Recent Threads
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
Related Threads
CAclubindia
