Dear Sir,

I am a member in practice. I have obtained a mortgage loan from a bank. I want to know whether I can accept appointment as the stock auditor of the same bank. In stock audit the auditor is required to express opinion on the financial statements of the borrower i.e. party of the bank. Stock auditor is not required to express opinion on the financial statements of the bank. So this is not a violation of the professional ethics in my opinion.

Kindly provide your opinion on the matter.

Thanking you.

in a newly started company one of the director withdraw cash from bank his own name .actually the cash used for need company preliminary expenses . i want to know about how the auditor treat the this transaction as cash withdrawal by the company or loan to director.

I had some questions related to Tax Audit of Co Operative Banks :
1. Why co operative Banks use word limited even when they are not registered under companies Act?
2. Whether Alternate Minimum Tax is applicable to Co Operative Banks?
3. Whether the provision for NPA made by bank is a allowable expenditure?
4. Whether AS 22 regarding DTA/DTL is applicable to Co Operative bank and what if the bank does not make provision of DTL or DTA?

Dear All,

Can anyone please provide me Concurrent Audit Format for CDR Audit.

Thanks in Advance

Abhishek Agarwal

My query is that one of my company having a turnover of Rs 100 Crores in the year 2011- 12 and Rs 90 crores for the year 2012 -13 whether the cost audit is compulsary for both years.

My company falls is a steel manufacturing unit.

A report was qualified for FY 2011.12 of a Pvt. Ltd. Co. for showing excess income and consequntly showing excess receivables as on 31.3.12. For FY 2012.13 is qualification necessary if receivables are continued with excess balance as on 31.3.2013?

Sir,

Going through the accounts of an organisation I noticed that, Balance shown in a Pass Book(not huge)has not at all been taken into account since 2009. Actually the balance has not at all been utilised and the balance being shown is only interest(normal) not attracting TDS.

On pointing out, the organisation says they simply did not notice the Pass Book and hence it was inadvertently missed out and they are asking solution. Can someone clear me how to account for. Actually the accounts for 2012-2013 has not been closed.

Dear Experts,

Please confirm whether in case of Partnership Firm covered under Tax Audit under 44AB of I.T.Act, the Preparation of Financial Statements i.e. Balance Sheet & Profit & Loss Account can be in T Format or it is mandatory to prepare only in Vertical Format likewise in case of Pvt Ltd Co. as per Companies Act in Revised Schedule VI.

In trust audit what books of accounts to be check and what other important point to be in mind when doing trust audit

A company pays subscription to madras club on behalf of director will it attract 194C ? In which section it has been specified or is there any case law for this?