Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Section 141(3)(g)

24 September 2019

A auditing partnership firm has a 3 partners. In a year one of the partner complete his celling limit of audit of company i.e. completed 20 company audit. A partnership firm can be appoint as a auditor by a company?

Reply
Follow
Share

2 Replies

Jatin Bajaj (CS) (2930 Points)
Replied 24 September 2019

As per section 141(3)(g) of the Companies Act 2013, if the person is in the full time employment elsewhere or if the person or the partner of the firm already holding the auditorship in more then 20 companies, then such audit firm or an individual cannot be appointed as an auditor in more then 20 Companies.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Nidhi M (account manager) (51 Points)
Replied 26 September 2019

As said by Jatin Baja, an individual can't be appointed if holding auditorship in more than 20 companies.... but in case of partnership firm, same can be appointed as an auditor unless all auditing partners are holding more than 20 companies individually