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New tax audit limit rule for CAs to apply from April 2026: ICAI president

CFO News

ICAI will implement new guidelines from April 2026, limiting each partner in accounting firms to a maximum of 60 tax audits annually. This aims to prevent audit assignment concentration among senior partners and foster competition.

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Audit firms may rethink partner roles as ICAI enforces 60-audit cap per partner

CFO News

Audit experts are calling this step progressive which will help in decentralising audit concentration from large firms that hold the majority of the mandate. Presently an individual CA can conduct 60 audits in a year but the rule is not the same for partners in accounting firms.

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French audit firm Mazars bats for joint audit in India

CFO News

Joint Audit India: David Herbinet, its global head of audit, says joint audit deals with challenges of high concentration of Big Four firms and of audit quality

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Max 60 tax audits per partner likely: ICAI

CFO News

From fiscal year 2027, a partner in an accounting firm can conduct a maximum of 60 tax audits annually. The Institute of Chartered Accountants of India aims to discourage audit assignment concentration. Charanjot Singh Nanda, president of ICAI, shared this decision.

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Members’ Profile: Rofhiwa Irene Singo

CFO Talks

This opportunity allowed me to audit clients like the South African Revenue Service and South African Tourism, as well as manage accounts for Mastercard South Africa. If I could relive one day from my career, it would be 31st July 2014—the day my team and I finally achieved an unqualified audit opinion for the Department of Mineral Resources.

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NFRA stands firm on SA 600 revision despite ICAI concerns; consultation paper issued

CFO News

Amid concerns from the Institute of Chartered Accountants of India about potential audit concentration among large firms, the NFRA proposes significant revisions to SA 600 to address audit deficiencies and enhance oversight.

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How to best prepare for an audit post-acquisition

E78 Partners

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. Proper preparation is critical in navigating the post-acquisition audit process smoothly, minimizing disruptions, and providing timely, accurate information to stakeholders.