Hello,

A Proprietor whose turnover was Rs.5 Crores got its Accounts audited by a Chartered Accountant whose no. of Income Tax Audits signed crossed 45. Now, ICAI has found out and is taking action against the Chartered Accountant. Can the Proprietor be under any fault i.e. will it affect the genuiness of the Tax Audit or will only the CA be under the hammer?

Can anyone please let me know what is the difference between analytical and substantive analytical procedures??
i'm trying it harder while referring to study material. any good example in against this may be more useful.
Thank you in advance

Whether Security Premium is consider as reserve or not?

There is an tax audit of a small Pvt. Ltd. Company which has more than 12 lakh receipts of Consultancy services in the previous year, but the company has not applied for service tax no. and in the previous year audit has been done. In this year total receipt is only 8 lakh. should we mention this in our audit report regarding the non registration in Service Tax or just to see the exemption limit for current year of 9 lakh.....

I want to know the difference between Retainer fees of Directors and the Directors, Whether ST on reverse mechanism concept applies for applies for Retainer fees received by directors?

This is a question from Practice Manual, can any one give more clarity for this answer

XYZ Private Limited is engaged in the wholesale business of buying and selling silk sarees.
The accounts are maintained under the Companies Act from 1st October to 30th September
each year. The Chief Accountant of the Company is requesting the tax auditor to conduct tax
audit U/S 44AB of the I.T. Act for the period for which accounts have been maintained under
the Companies Act. As the tax auditor of XYZ Private Limited, how will you react to the Chief
Accountant’s request?

Criteria to conduct Bank Audit By A FRESHER CA Who has just started PRACTICE..

what is the procedure for auditor if not appointed in AGM?

Please reply urgent...
What should be wordings of qualifying in Auditor's report about: Cost Audit being not Carried over by company to whom it is applicable.

Dear Sir,
X is a pvt ltd co doing real estate development business. The company has acquired one fixed asset as an investment not in normal course of business. The possession of the said asset is going to take some time. The company is interested to capitalise the interest portion attributable to that qualifying asset.

Please comment , is it correct ??