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Auditing

Bijal Arvindbhai Vora (Article) (50 Points)

02 September 2011

Can anybody please suggest how to get registered for taking up of audit work for companies and other categories?Also suggest is there any difference between empanelment and audit?looking forward to know the procedure for taking up of empanelment work also.....kindly reply at the earliest.......thank you....

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5 Replies

CS Bijoy (Expert) (6394 Points)
Replied 13 September 2011

Empanelment is made as registration for preference for govt audit . and for other just qutation is required to submit for the tender issued.

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swati (Officer-Accounts-Shared Services) (67 Points)
Replied 14 September 2011

Empanelment:It is specifically for the govt audit work. In this, member need to file the tender or apply for the audit assignment provided any panel is open, if the panel is not open and the member is asking for the audit assignment or inquiring about the same then it will considered as professional misconduct and liable under clause (vi) to part-I to first schedule of Chartered Accountants Act,1949.

Audit: It wolud mean the simple audit work which the you can get by any refernce or your contacts from another CA. It would cover the catagories other then govt.

If you want to get the audit assignment work being a member of ICAI, then you can give classified advertisement in the institute journal.

Regards,

Swati

Annu.R (CA,CS,B.Com) (2788 Points)
Replied 14 September 2011

Check all condition for empanelment in MEFICAI and CAG websites.......however date extended by ICAI upto 15 Sep 2011 and for Banking Audit then RBI...........some opening their tenders this time and asking for quotations with conditions...........New member may also get work through out sourceing from reputed or old CA firms.

Ateeq (CA - Final) (218 Points)
Replied 19 September 2011

To get the audit work in company or any company you need to register your firm and posses certificate of practice. With respect to empanelment the above replies are correct.