caculation of audit fees

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bijay kr agrawal ( CA FINAL)

bijay kr agrawal ( CA FINAL) (Querist)
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20 April 2011 I want know how audit fees are calculated in the cases of companies hiring any CA for any audit?

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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03 May 2011 There is no specific formula for calculating of fees for any services provided by the Chartered Accountants. It largely depends upon person to person and also industry to industry.
However, ICAI has issued one guideline regarding the charging of fees which contains the ideal fees for various services. You can search it on ICAI portal.