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of <h1>Audit Report Signing Rules: Only Qualified Partners Can Sign, Not Sole Chartered Accountants or Firm Names.</h1> The circular addresses the legality of signing audit reports in a firm's name, emphasizing that under the Indian Partnership Act, 1932, a 'firm name' requires a partnership contract between two or more persons. A single chartered accountant cannot operate under a firm name, nor can a firm be appointed as an auditor unless all partners are qualified under section 226. Section 229 mandates that only a partner may sign audit reports, not merely affix the firm name. The circular calls for adherence to these provisions and supersedes previous guidance on the matter.
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