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Vineet Morevineet more asked 3 years ago

Sir as per institute guidelines any member cannot hold more than 30 audits and as per companies act – 20 co audit + opc, small & pvt < 100 cr share capital⁠. So should i conclude that 20 public/listed companies/pvt>100cr & maximum of 10 opc, small & pvt < 100cr ??⁠⁠

2 Answers
RaviRavi Staff answered 3 years ago

Hello Vineet 
Co Act limit 20 but 4 types of companies excluded
As per council guidelines limit is 30 but no exclusions
so combined interpretations is
limit of 20 excluding 4 types of companies
and limit of 30 including 4 types of companies
 
or as you have expressed extra 10 can be used for 4– OPC / SMALL / Dormant / Pvt having PC < 100 crores is also correct

RaviRavi Staff answered 3 years ago

but always use limit of 20 , never use 30 unless until specified by question to use council guidelines, it can be given at ens as reference 

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