Sick companies

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nooruddin (Querist)
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22 August 2011 Dear Expert,

Can Any one guide me that what are the essentials to be reported in the annual accounts as disclosed under Companies Act for a sick company????

As it is the first year in which the accumulated losses of the company exceeding the Net Worth of the company....

Can you also highlight the points that have to be checked while doing Audit of A Sick Company.....

Please revert ASAP.....

CA Sumat Singhal

CA Sumat Singhal (Expert)
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22 August 2011 Apart from mentioning in CARO it is required to mention in notes to account about whether going concern assumptions are suitable or not so check points with repect to that.

nooruddin

nooruddin (Querist)
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25 August 2011 can u please elaborate.......