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MCA issues order regarding rotation of auditors


Ministry of Corporate Affairs has issued Companies Third Removal of Difficulty Order 2016 regarding applicability of the provisions of Rotation of Auditors as per Section 139 2 of the Companies Act 2013 PFA the enclosed attachment for more details

Clarification regarding threshold Limit of tax audit under section 44AB and 44AD


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 20th June 2016 Sub Threshold Limit of tax audit under section 44AB and section 44AD clarification regarding Section 44AB of the Income tax Act the Act makes it obligatory for every person carryi

New and revised standards on auditing


Revised SA 700 Forming an Opinion and Reporting on Financial Statements New SA 701 Communicating Key Audit Matters in the Independent Auditors Report Revised SA 705 Modifications to the Opinion in the Independent Auditors Report Revised SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraph

Preparation of Panel of CA and Firms having experience for Forensic Auditing


Central Bureau of Investigation CBI has sought the help of the Institute of Chartered Accountants of India for investigation of important Forensic Audit assignments Chartered Accountants firms having prior sufficient experience and expertise in forensic auditing may submit their details at the earli

Simplification of procedure to deal with audit objections raised in indirect taxes by CAG


Central Board of Excise and Customs CBEC has issued a circular to simplify the procedure of dealing with audit objections raised in indirect taxes by the office of CAG The Circular rescinds all the past circulars and instructions and prescribes a new simplified and consolidated procedure The Circula

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Experts Opinions

Appointment of first auditor


In case of first auditor whether it is required to file ADT 1 or not If yes then what is the procedure for the same As per my opinion no ADT 1 is reuired to be filed u s 139 6 of CA 2013 only after first AGM its required

Comments in the audit report


SIR ONE OF MY CLIENT ASSOCIATION IS NOT PROVIDING DEPRECIATION ON THE FIXED ASSETS mY QUESTION WHETHER THIS HAS TO BE QUALIFIED WHILE GIVING THE AUDIT REPORT

remuneration of auditor


How is the remuneration of the 1st auditor appointed by cag in government companies determined

Income tax audit.


Hello Please guide me on How to conduct income tax audit of an assesse who owns few liquor shops What points should I consider in conducting audit Below are the details which are available 1 All purchase details are duly available 2 License fees paid details are available 3 Bank guarantee details av

Disabled tax audit e-filing id


Sir I have received a mail from incometax department that MY E Filing Portal has been temporarly disabled due to NON VALIDATION OF PAN NUMBER by ICAI What i have to do to enable it as soon as possible Is it correct practice to disable E Filing ID Citing PAN Validation without giving any prior commun

Discussion

Ceiling limit of tax audit

While counting ceiling limit of tax audit we will include audit u s 12a

Audit report

audit report

Foriegn subsidiary audit of indian company

We have to do ledger scrutiny of Foriegn subsidiaries of Indian Company Can Any one provide me the guidelines on how to conduct the Audit for the same Read more at http www caclubindia com profile asp member id 1214384

Charitable trust

excess utilization say 110 of income can be carried forward to be utilized in future vishakapatnam ITAT case law says that to claim the benefit the excess should be reflected in balance sheet pl send the citation and views of members on this aspect AJAY

Cs also lost service tax audit

cs lost all authotrity in service tax audit why cs is being deprived from audit

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A Checklist for NRIs investing in Indian property


NRIs have always been keen on investing their money in India Buying a property in ones home country will always have its own advantages Occasions like wedding anniversary or a misfortune may want them to visit their homeland to keep the Indian connection alive Another thing that dominates an NRIs mi


Importance of communication with management during audit of financial statement


Introduction Communication is a tool to share various ideas and opinion between two person and group of person For an organization effective communication is an essential tool in achieving productivity and maintaining strong working relationships across the organization During the audit for proper c


Appointment of statutory auditor under companies act, 2013


COMPILATION OF PROVISIONS RELATING TO APPOINTMENT OF AUDITOR BACKGROUND Need of Auditor All the companies registered under the Companies Act 2013 or any previous Company law whether public or private and whether having a share capital or not are required to maintain proper books of accounts under th


Analysis of Audit (CA IPC) Paper for May 16 Exams


Paper Analysis Suggested Answers Common Mistakes CA IPC May 16 Highlights Around 50 marks paper was not from PM they were new questions 35 Marks from SA 28 Marks from Company Audit 20 Marks from Vouching Verification 12 Marks from Special Audit 1 Discuss the following Q a W r t SA 550 Identification


Analysis of Audit (CA Final) Paper for May 16 Exams


Paper Analysis Suggested Answers Common Mistakes CA Final May 2016 Exams Generally audit paper from past 4 attempts was of 7 pages but this time it increase to 11 pages 57 increase Questions of around 50 marks were from PM rest of 70 marks questions were new from module SAs Level of Questions Marks


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Updated on : 8/27/2016 1:18:15 PM


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