audit Staff asked 7 years ago
sir there is a que in pm where auditor received fee in advance nd there is a limit of 10000. What does is this limit actually???
1 Answers
Ravi Staff answered 7 years ago
Given in council guidelines 2008
CA will be disqualified to become auditor if he is Indebted or given guarantee / security to Entity for amount exceeding limit fixed in law and in other cases 10,000
so per above requirement limits are
Company Audit à 5,00,000 (fixed by law)
Tax Audità —- Zero (fixed by law)
Vat Audit / Internal Audits and Other Audits—– 10,000 (Other Cases)