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Section 141

Piyush Shirodkar (CA Final Student) (1358 Points)

19 August 2018

What are the maximum company audits an auditor can take?
Is it 20 or 30 including private company?

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9 Replies

Vatsla Alagh (1545 Points)
Replied 19 August 2018

As per companies act, limit is of 20 companies which doesn't include the following :

1. OPC
2. Small company
3. Dormant company
4. Pvt cmpny hving paid up capital less than 100 crore

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Piyush Shirodkar (CA Final Student) (1358 Points)
Replied 19 August 2018

okay thanks for the info

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Harshit Agarwal (46 Points)
Replied 20 August 2018

But as per CA act the limit is of 30 companies including pvt ltd compnies..!
So the overall limit for holding audits including pvt co audit is 30.

Piyush Shirodkar (CA Final Student) (1358 Points)
Replied 20 August 2018

That's the reason I had asked this query.
So is it 20 or 30 including private company?
Can you please share the notification for the same.

Harshit Agarwal (46 Points)
Replied 20 August 2018

If u have 20 co audits and 8 pvt co ltd audits .. den u can opt for 2 pvt ltd audit only whose psc is less than 100crs.. So the limit for holding audit excluding pvt, small, dormant, one person is 20 co..
and while holding pvt co audit as well, the limit shall be 30 !!

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Piyush Shirodkar (CA Final Student) (1358 Points)
Replied 20 August 2018

@ Harshit You mean to say an auditor can take maximum of 20 "public companies" (whether listed or unlisted) and 10 private companies (whose paid up share capital is more than Rs 100 crores)?