HI..
Are there any restrictions in the no. of Tax Audit Assignments that can be undertaken as per any notification from the ICAI?
If yes, pls give the reference.
Thanks.
6 Replies
Ajeej Hussain
(Audit Executive)
(189 Points)
Replied 03 December 2009
The ceiling on tax audit has been increased from 30 to 45 per chartered accountant/per partner. Each chartered accountant/partner can undertake 45 tax audits'
Sajid Rahman
(C.A. Final)
(71 Points)
Replied 03 December 2009
thanks a lot buddy...but it would be nice if u could giv me the notification no. or any other reference.
VENKAT SIVALINGAM ARUN
(CHARTERED ACCOUNTANT)
(41 Points)
Replied 24 August 2010
but do you think this limit is necessory for chartered accountants. is the ICAi itself curtailing the development of the members by putting a limit of audits. is it correct ?
to me the limit can be on only private and public limited companies and not applicable to individuals and firms.
It also leads to havoc in the minds of the clients as to suddenly getting some other ca signing their report istead of the old ca and when they go for bank assistance their the question arises as to why there is no consistency in retaining a ca for all years.
please any learned member throw some light on this issue.
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