Can Mr.X who is a CA in practice audit the books of Y Ltd in his individual capacity, if the accounts of Y Ltd is maintained by a Co in which Mr.X hold substantial interest?

What is assertion in audit mean?
also what is the meaning or fair value accounting estimate? where we use these estimates?

1) sec 143(1) ­ a person who is in full time employment elsewhere is
disqualified.
What if he is in part time employment some where??
2) sec 143(1) ­ a person whose relative is director or key managerial
person in the Company (Example X.LTD) is disqualified..
What if the relative is KMP or CEO in the subsidary of X LTD??
Please clarify..
thank u..

sir, can anyone tell me the accounting treatment for self consumption of power by a hydro power plant.

suppose if CARO applicable for holding co. then is it applicable for susidary Also??

NOC form previous auditor is necessary ? while auditor appointed in AGM

Dear experts,
I am conducting statutory audit of DO of a General Insurance Company.Since I am doing it first time,I need ur help/advise in this regard.
1) Could u please provide me an Audit Program/Checklist??
2) Please give me information about those areas which requires special attention .
3) In MACT cases how the provisions are made??
4) Any other thing which as per ur experience seems to worth mentioning here.
Thanks in advance.

I am associate with new company. It sale tax and ROC registration are undergoing.Company already inclurred Rs 12 lakhs for formation and other expenses.There is no bank account during the period. all the expenses are made in cash .Kindly advise how to incorporate above said expense in new company.
Thanks

Hi,
My client has received a refund of approx. 20 lacs, during the year. There was no receivable standing in the books. Whether the amount received is capital receipt or revenue receipt?
What should be the accounting entry to record this transaction?

Thanks

can any one please tell me the procedures for verification of sundry debtors and sundry creditors