26 October 2009
Plz tell the Exact tax audit ceiling limit per Individual CA & Ca Firm. Is it is 30 or more than thirty. I recentlay came across the tax audit article on website where the 3 ca on firm each having 45 tax audit assigmenent totallin to 135
Plz help..............
Also plz quote for non-corporate & Corporate whether Tax auditor can be Apptd as Cost auditor
08 November 2009
As members are aware, the maximum limit of Tax Audit for a member in practice, as individual or as a partner in a firm, was fixed at 30 as back as in 1989 with the objective of ensuring quality and equitable distribution of work. In view of fast expanding economy and increase in number of such assignments coinciding with enhancement of professional competence of members to perform quality services in an IT-enabled environment, it was decided to review the maximum Tax Audit limit. As such, the Council of the Institute at its 268th meeting held from 30th April to 2nd May 2007 has decided to increase the Tax Audit limit for practising Chartered Accountants, as individual or as a partner in a firm, from 30 to 45. Courtesy:- ICAI.
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