Ceiling limit of audit

Stat Audit 2627 views 6 replies

Can a Practicing CA accept audit of 50 pvt. ltd.companies ??

Replies (6)
No because it is not as per icai guidelines

As per my knowlege a practicing CA can take Unlimited number of Audit of a Private Limited Company...

As per companies act, a Practising CA can take unlimited Pvt. companies audit but it is not the same as per ICAI Guidelines.

As per  companies act Section 224(1B) a CA can accept unlimited no. of private limited company audits.

But as per Chartered Accountants Act, 1949 an auditor can accept maximum 30 company audits.

Here company includes private as well as public companies.

So for example a CA is not having any other company audit still he can accept only 30 private limited companies audit.

As per  companies act Section 224(1B) a CA can accept unlimited no. of private limited company audits.

But as per Chartered Accountants Act, 1949 an auditor can accept maximum 30 company audits.

by applying Rule of harmonious construction

Ca can done 30 audit maximum(whether pvt and pub co.)


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