meena (Articled assistant) (51 Points)
09 July 2014one college has been audited(2012-13)in which some of the expenditure(vouchers, proofs) missed out by management
so, in audit report auditor has mentioned 250000 cash is missing in closing balance...(showed in a/cs but cash is missing)
In this criteria.. for 2013-14 audit, they approached us.. by briging the missed out (200000 rs proofs)
qn is ---- how the treatment for 200000 and 50000 rs
prepaid thanks... :)
Dharmendra rana
(Job)
(106 Points)
Replied 09 July 2014
Check AS-4, AS- 5, CARO-2003 and Standard on Auditing.
It Seems a fraud...or Auditor didnt done Audit properly.
CA Raj Doshi
(Practising CA)
(8723 Points)
Replied 09 July 2014
meena
(Articled assistant)
(51 Points)
Replied 10 July 2014
yeah, I agree Mr. Raj considering 2 lks as prior period exp..
1) case : then what about 50,000 rs-- will it b enf if v take correspdg written approval nw...
2) case : as "unexplained amt" in expenditure side-- giving a proper disclosure
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