As per companies act the ceiling of audit is 20 companies per person.As per council its 30 companies. Then what are the students supposed to answer if related question is asked as per any case law?as per companies Act or as per the c.a council?
2 Replies
MD.Taufique
(CA,CS)
(308 Points)
Replied 23 August 2011
the number of audit as per 224(1B) is 20 companies per individual practicing ca/partner excluding private companies out of which not more than 10 companies should have a paid up capital of 25 lakhs or more but according to notification issued by ICAI the ceiling is 30 companies including private company and of which not more than 10 cos should have a paid up capital of 25 lakhs or more.
The answer should written as above if asked in exam.
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 23 August 2011
| Originally posted by : MD.Taufique | ||
 |
the number of audit as per 224(1B) is 20 companies per individual practicing ca/partner excluding private companies out of which not more than 10 companies should have a paid up capital of 25 lakhs or more but according to notification issued by ICAI the ceiling is 30 companies including private company and of which not more than 10 cos should have a paid up capital of 25 lakhs or more. The answer should written as above if asked in exam. |
 |
Exactly Agree with you....
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