Can a CA become a auditor?

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Can a CA become a auditor?

As per the Companies Act, 2013, only a practising Chartered Accountant (CA) is eligible to be appointed as the statutory auditor in a company. Such an appointment is possible exclusively when the majority of the partners are practising Chartered Accountants in India.

What is the qualification for Comptroller and Auditor General of India?

Candidates need to have a graduation degree from any recognised University/Board/Institute or equivalent. The age limit is between 18 years and 27 years. Age relaxation is applicable to candidates falling under specified reserved categories.

Can the accountant be the auditor?

It is also possible for an accountant to study further and to become qualified as an auditor later on in their career.

What is the difference between chartered accountant and auditor?

An auditor is a person that focuses on the area of bookkeeping. Chartered accountants are accountants for hire. Auditors require to ensure that all transactions comply with the guidelines stated in the regional and government law. Chartered accountants require to supply trustworthy info about monetary records.

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Can a govt employee pursue CA?

Yes. It is possible. Govt Employee can take Sabbatical to do CA if granted in which case employee will be paid salary and all perks for upto 3 years while doing CA, MBA, Post Grad or specialization (Except Engineering, Medical courses etc).

Who Cannot be appointed auditors of a company?

An auditor must be independent of the company, and therefore, a person cannot be appointed as an auditor if they are:

  • an officer or employee of the company or an associated company.
  • a partner or employee of such a person, or a partnership of which such a person is a partner.

How many years an auditor can audit a company?

5 years
An Auditor is appointed for a period of 5 years and is eligible for Re-appointment after the expiry of period of 5 years. Hence he/she can be appointed over and over again without any restriction.

Where to submit acknowledgement letter to Comptroller and Auditor General India?

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Further, the applicant Audit Firms/ LLPs are required to submit a print out of such ‘ONLINE’ generated acknowledgement letter along with hard copies of supporting documents in the Office of the Comptroller and Auditor General of India at 9, Deen Dayal Upadhyaya Marg, New Delhi – 110 002 latest by 26th February, 2021.

What is audit report of the Comptroller and Auditor General?

Audit Report of the Comptroller and Auditor General means a report of the Comptroller and Auditor General of India under Article 151 of the Constitution of India or under Section 19A of the Act or under Section 49 of the Union Territories Act, 1963.

How is CAG appointed in India?

CAG is appointed by President of India on the nomination of Prime Minister. The reports of CAG are taken into consideration by public accounts committee and committee on public undertakings in parliament as well as state legislatures. Their term is of 6 years provided they are not more than 65 years old.

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What are the qualifications required to become a chief accountant (CAG)?

Eligibility: Neither the Constitution nor the CAG Act prescribe qualifications for the appointment of CAG. Hence, conventions developed through British Rule and UK’s experience govern it. As per these conventions a retired or very