Audit engagement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2014
Dear Sir,
I am an Chartered Accountant.I have been approached by an Client,who is having an registered Political Party.They need to submit Statement of election Expenditure to Election Commission of India and the same statement need to be certified by an chartered accountant.Where as they are not maintaining any books of Accounts not even an Bank Account is maintained. As per them no monetary transaction has happened.So can you please suggest me how to proceed further.Can we accept the assignment .if so what documentation need to be taken from client.
I am an Chartered Accountant.I have been approached by an Client,who is having an registered Political Party.They need to submit Statement of election Expenditure to Election Commission of India and the same statement need to be certified by an chartered accountant.Where as they are not maintaining any books of Accounts not even an Bank Account is maintained. As per them no monetary transaction has happened.So can you please suggest me how to proceed further.Can we accept the assignment .if so what documentation need to be taken from client.
Amol S Joglekar
(Expert)
12 December 2014
You can very well accept the assignment.
The election commission has given the FORMAT in which the details of the expenditures are required to be furnished. Ask the same to the concerned political party. Applying the usual auditing techniques, you can then proceed to give the certificate.....
The election commission has given the FORMAT in which the details of the expenditures are required to be furnished. Ask the same to the concerned political party. Applying the usual auditing techniques, you can then proceed to give the certificate.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Whether output tax is taken credit by purchaser
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
