What is the limit of Audit of Public & Private Co. under Professional Ethiics?
PiyushAgrawal
(Chartered acooutant in practice)
(575 Points)
Replied 19 May 2009
20 Pubilc Co. audit max for a C.A.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 20 May 2009
An Audit of a pvt co. is excluded while computing the ceiling limits u/s 224 (1B). However as per ICAI notification a CA can accept a maximum of 30 audits including the audit of Pvt. Co.
Non-observance of this ceiling would amount to professional minconduct.
Kedar Pande
(Self Employed)
(896 Points)
Replied 21 May 2009
The ICAI limit is amended now. A CA can accpct 45 audits.
navin
(PROPRIETOR)
(26 Points)
Replied 21 May 2009
Please confirm by whch amendment it has become 45.
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 01 June 2009
There is no amendment w.r.t. the limit for statutory audits. As per ICAI regulations the limit is of 30 audits. However there has been an amendment w.r.t. to Audits under Income Tax Act, which has been increased from 30 to 45.
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