Dear All
This mail is in reference to the Audit Limits by Partners in the CA Firm ( Tax Audit & Companies Audit), Whereby any partner can sign the report in place of other partners.
Whether it is correct method to count number of Audit by any member of ICAI , as present method seems to be for CA Firm and not for Member of ICAI, which may have been adopted by ICAI under influence by big names or reason unknown by us.
In present system of counting number of Audits, any partner of CA Firm can sign, upto the maximum limits multiply by number of partners, however question may arise, whether such system has been checked, whether number of excess audit done by CA Firm has been compiled any time, No action has been initiated by ICAI on those, who has signed in excess of number for tax audit ( I have read through various mails in this group that hundreds of audit has been done by CA). Now it can be easily checked whether any member of ICAI has signed report in exces of prescribed limits),
Due to present system, maximum work are handled by Big Firm, as they add more number of members in their list and do more work, if this system is scrapped and it is implementd that only WORKING PARTNERS, can sign report and No Member can sign in excess of number prescribed, then value and respect of all members will grow and more work will be available to small and medium CA Firm as well as opportunity to new members in the profession.
My opinion is that prescribed number of limits should be with Member of ICAI and should not be with CA Firm through Partners
Views from Respectable Senior Members are solicited....
Thanks with Best Regards
CA Chitranjan Bharadia
Ahmedabad
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