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Audit

This query is : Resolved 
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(Querist)
09 November 2011 Dear Sir,

Query 1 :
whether CA authorization is required on balance sheet and profit & Loss a/c schedules.

Query 2 :
X company has availed a loan 2cr (Cash Credit Limit)from Z Bank in the 2009 (i.e.AY09-10)

my doubt is in the AY 10-11, in Balance sheet under secured loan it is reflecting. whereas, in Note to accounts auditors has not discussed that company is enjoying CC Limit.

Whether it is mandatory to discuss in the notes on accounts or not. please help in this issue.
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mithun

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mithun (Expert)
10 November 2011 No it is not mandatory to give the details in notes to accounts. But is mandatory to show the respective amount in secured loans
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