Dear All
I need to know the applicability of AS- 3 viz. cash flow statments. Suppose a company is having a turnover of Rs. 75 crores in the f. y. 2011-12 and Rs. 45 crores in the f. y. 2010-11. Do the company need to prepare cash flow statements for the f. y. 2011-12 or not ?

In case of appointment of statutory auditor of a company in the annual general meeting of the company, when the incoming auditor has to communicate with previous auditor ?

Is it necessary to communicate before filing Form 23B ?

Or communication is not required as the previous auditor has given his consent to the company to change tha auditor.

Please clarify

Our directors have signed the letter of representation on 26th Nov 2012. (by mentioning date). But auditor has signed the report on 28th Nov 2012. Now he is again asking us to re-submit the letter of representation signed by our directors by mentioning 28th Nov 2012.

Is it mandatory to re-sumbit it again?

In case of company, AS-18 is applicable or not. what is difference between enterprises & company?.

1)Can a Chartered Accountant in practice (A Sole Proprietor) work in full time employment with another CA / Firm of CAs as an employee ?


(OR)


2)Can:-
a)A CA in practice (For Example A&Co, a Proprietorship Concern), (or)
b)A firm of CAs (For Example John & Peter, CAs a partnership firm);
employ another individual (For Example Mr. David, a practicing CA) as a full time employee, even though such a person is practicing in his individual capacity?

I have received a letter from RBI mentioning the following:

Annual Financial Inspection Under Section 35 of the BR Act, 1949 –
Bank – Position as on March 31, 2012 – Divergence in Asset
Classification.

It is observed from the captioned report that in respect of some
borrowal accounts (details enclosed) there is a divergence in asset
classification. You are advised to let us know by return mail as to
how this divergence in classification had occurred.

how to dealt with this.

Can an auditor withhout obtaining NOC from the previous auditor commemce Statutory Audit and file annual forms with ROC?
Please provide me the applicable provisions regarding the CA Act,1949 and Companies Act,1956.

Thanks in advance.

Dear Sir/Ma'am,

A very quick question. Please correct me if I am wrong. Is TDS Return, VAT return & Service Tax Return filed quarterly?

If I am wrong then can you please correct me on this.

Dear Friends,

Please let me the main points to be considered while undertaking Fixed Asset verification?

MY CLIENT IS AN INDIAN COMPANY SUPPLYING CASTING GOODS TO ITS PARENT COMPANY IN USA AFTER PURCHASING FROM LOCAL MARKET AS PER SPECIFICATION OF PARENT COMPANY.WORKING CAPITAL FINANCING IS ALSO PROVIDED BY PARENT COMPANY.PLEASE SUGGEST WHICH IS THE MOST APPROPRITE METHOD TO BE USED FOR TRANSFER PRICE AUDIT PURPOSES.
V K JHUNJHUNWALA