n!tE$h GarG (CA Final) (216 Points)
19 July 2010Can anyone tell me that what is the Liability of the CA to sign the Provisional and Projected Balance Sheet.
should he sign ?
n!tE$h GarG
(CA Final)
(216 Points)
Replied 19 September 2010
| Originally posted by : nitesh | ||
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Can anyone tell me that what is the Liability of the CA to sign the Provisional and Projected Balance Sheet. should he sign ? |
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Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 21 September 2010
Hi dude,
In my opinion, recipient of such provisional balance sheet makes a diference. If you are giving this to financial institution in form of 'Projected Balance Sheet' then CA's liability is same as in case of normal balance sheet (except normal variances between actual and projected)
But if your client wants it for just reference in between your audit period then there will be no liability since it is not a final balance sheet.
Waiting for other replies since I am much familiar with second case and I have seen many cases where CA gives the tentative balance sheet to client for reference but in final balance sheet many adjustments are made.
n!tE$h GarG
(CA Final)
(216 Points)
Replied 21 September 2010
Thank u Yegesh Shah for ur kind Attention .
manoj katara
(Service)
(209 Points)
Replied 29 December 2010
Dear nitesh
As the word itself tells that the figures are provisional & projected and hence the ca always write one life below the balance sheet as per information provided to us.
so the ca can sign the balance sheet.
CAclubindia
