Audit QnA - Page No 234

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Vinod

04 September 2013 at 23:20

Bank audit

In case of housing Loan how can we check the sanction amount of loan by assesses annual income? or If assesses is not a tax payer can bank give to him housing loan?

Vinod

04 September 2013 at 23:10

Tax audit

what is benefit of tax audit for owner ?

Harshit Dhupia

04 September 2013 at 22:35

Is it compulsory for a CA to put a round seal containing his name, membership number, city on the audited financials, ie balance sheet and p&l and audit report?

Secondly, what if he has put square stamp on these financials? does the report loose its authenticity?

Many of the Practicing CAs have been found using square stamp to validate the audit report and financials of the company.

If at all there is a mandatory requirement of putting round seal as per ICAIs notification / circular / act. Please share.

Harsh Nathani

04 September 2013 at 17:00

Fixed assets

25 chairs purchased @ Rs. 3500 each. Total bill amount = Rs. 87500. My question is that since all the chairs are of value below Rs. 5000, so whether it should be depreciated 100% or what?

Abdu Rahim.c

04 September 2013 at 16:09

Director

How many director shall retire by rotation ..??? is it mandatory if article is silent ???

SAHANA J N

04 September 2013 at 13:25

Noc from old auditor

I am asking this query on behalf of my Friend
"We are an Audit Firm. We got a new client wherein they've asked us to represent the Assessment which is in the middle of the Finalization.

Whether we should get NOC (No Objection Certificate) from Old Auditor."

manish

03 September 2013 at 22:35

Company audit

What is the mean of appoijtment of nominee director u/s 408 to end the oppression or mismanagement?

Anonymous

03 September 2013 at 17:53

Audit

does amount borrowed from bank for vehicle loan 4 wheeler be called as term loan

divya barola

03 September 2013 at 16:52

Loan from director

Client has taken loan of Rs. 5350000 from the Director.
The loan is received through two cheques on the same day.One amounts to Rs.5000000 and the other of Rs.35000?
What could be the reason for this? Is this being done to hide the violation of some provision of the Act?