What is the ceiling of audit limit under companies act 1956?
Ceiling of Audit limit under companies act 1956
priti shaw (ARTICLED ASSISTANT) (26 Points)
20 November 2008priti shaw (ARTICLED ASSISTANT) (26 Points)
20 November 2008What is the ceiling of audit limit under companies act 1956?
AMIT ADHIA
(ca)
(110 Points)
Replied 20 November 2008
Originally posted by :priti shaw | ||
" | What is the ceiling of audit limit under companies act 1956? | " |
as per companies act ,a ca can accept maximun 20 audits of public limited d com of which not more than 10 comapnides which have a paid up capita l of more than 25 lkhas
CA Chaitanya
(PRACTISING CA)
(4283 Points)
Replied 20 November 2008
Ya it is corret and it should be read along with notification no.53/2001 , which indicates that the overall audit ceiling is 30 audit assignments.
CA ramesh
(CA)
(131 Points)
Replied 05 January 2009
Can any one mail me schedule V part II of the companies act in PDF format or provide the link to download
thanks ramesh
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 05 September 2009
As per institues guidelines in notification no. 53/2001 the total statutory audits of an individual member should be 30
rajan
(articles)
(31 Points)
Replied 04 November 2009
celling under companies act 1956 : for individual practicing 30 audit assignments whether it is private or other companies.as per the notification of the council undar companes act 13-12-2000 an indivudual or partner would have any no of private companies audits.for partnership firm it is 30per partner & among 30audits not more than 10 public company audits which have paid up capital of Rs.25 lakhs or more.
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