Auditguru Auditguru Frequently Asked Questions(FAQ) Auditguru Auditguru

Soft Copy of Notes will be provided for all our courses till lockdown.
Due to complete lockdown our services will be restricted

 Meet Us Here
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 

Call Back Request