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Q. > Please Help: company audit ceiling
As per section 141 of the companies act 2013 , a CA can do audit of maximum 20 companies .
Now as per my understanding of law , ‘companies’ includes all companies – small , dormant , OPC , pvt , public , listed , unlisted .
so a CA , individually can do audit of max 20 companies only .
[ in case of tax audit , limit is 60 per partner per firm , thus a firm of 12 partners can do 720 tax audits , and all tax audits can be signed by any one partner of the firm also .
Do the same interpretation can be applied for companies act sec 141 – no of ceiling of audit ? ]
Please reply
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