02 January 2013
Every individual can have 20 company audits subject to a further limit of 10 company audits having a paid up capital of Rs 25 lakhs or more. If he is working as a partner in a firm then the number of audits can be multiplied with the number of partners in the firm to get the total number of audits in the name of the firm. If he is also working as a partner in some other firm he cannot audit more than 20 & 10 companies (respectively as mentioned above) in his name, both firms combined.
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