Audit limits for Practising CA

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Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2010 Dear Experts, My question is concerned with the maximum no. of audits appilcable to a Practising CA.

A Practising CA is a partner in one firm. Now he joins another partnership firm while continuing with the existing partnership firm i.e now partner in two firms.

The question is that how the no. of audits will be bifurcated.

1. Will all audits in the first firm will be counted?
2. Will all audits will be counted in the 2nd firm?
3. The respective audits in both firms will be counted within the overall audit limits.

Pls. Reply with the provisions regarding the above.

Regards

Aditya Maheshwari

Aditya Maheshwari (Expert)
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13 August 2010 In computing the “specified number of audit assignments”, the number of such assignments, 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.

refer this link
http://www.icai.org/resource_file/12766Council_General_Guidelines.pdf