Page 117 - Quick Insights Book 2022

Ann. 1 – Policy of Empanelment of CA Firms/LLPs and Selection of Auditors

benefit of earlier association of the merging partners with the merging firm/LLP will be accorded to the merged firm/LLP
only after five calendar years from the date of merger.

[4] Basis of points for Turnover of the firm/LLP from Audit Services only (as distinct from other activities e.g. consultancy):

Sr Metro Stations Non-Metro Stations (Other Stations)
No. (Mumbai, Delhi, Chennai, Kolkata,
Bangalore, Hyderabad)

Rs. in crore Points Rs. in crore Points

1 Upto 1.00 No points Upto 0.60 No points

2 >1.00 ----2.00 1 >0.60 ---1.20 1

3 >2.00 ----3.00 2 >1.20 ---1.80 2

4 >3.00 ----4.00 3 >1.80 ---2.40 3

5 >4.00 ----5.00 4 >2.40 ---3.00 4

6 Above 5.00 5 Above 3.00 5
[5] This will be implemented from the empanelment year 2021-22 and onwards for the refusal received after notification of
this policy.

104 Quick Insights on Professional Opportunities for Chartered Accountants