Hardeep Singh
22 September 2012 at 20:15

Internal audit

respected sir,
as an articled assistant i'm doing internal audit in a company where Fact_ERP accounting software is being used. Sir while vouching purchase vochers, i find purchase order no., Gr no., Party bill no., product code and dates in purchase invoice and goods recipt note, QC, LTR no., transporter's doucuents etc. are attached to it.
sir i get confuse in this information that how should i vouch the purchase invoice.
dear sir please explain me step wise method to do this



Anonymous
22 September 2012 at 16:34

Closing stock

There is a difference between Balance Sheet and Stock given to bank. Is it permissible ?



Anonymous

I belong to a firm having 5 partners. One of my CA wants to know about the celeing limit on tax audit that can be done by a CA. There are 5 partners - Mr.A, Mr.B, Mr.C, Mr.D & Mr.E. Now, overall 225 taxaudits can be done by our firm. I want to know whether Mr. A alone can sign all the 225 tax audits. Hence my question is whether the ceiling is to be seen individually or the firm as a whole?


Vishnu S
22 September 2012 at 06:38

Concurrent audit of a nationalized bank

Sir,

Our office is doing concurrent audit of a nationalized bank. I have a query on voucher checking.

Sometimes I come across check where the date is corrected (more than 3 months old) and signed by the account holder. Sometimes I see either amount in figures or words corrected by the account holder.

Is this valid? This is mostly self cheque or other than Account Payee cheques.
If it is an Account Payee cheque correction is permitted?



Anonymous
21 September 2012 at 22:04

Audit

Company came into existence in March 2011 then can statutory audit be done for 13 months from March 11 till 31 march 2012.And tax audit 44AB provision will be applicable. If yes then how ?


Rajesh
21 September 2012 at 20:15

Vat and cst....doubt sir...very urgent...

Dear Experts,
A company sells its products. For that both VAT and CST is attracted. I have the following doubts. please clarify me.
1) Should we have to file return for VAT separately and CST separately. (VAT applicable is TNVAT & Kar VAT.)
2) If Yes whats are the returns that has to be filed for TNVAT and CST?
3) What is the due date for Karnataka VAT?
4) Whats the return to be filed for Kar VAT and CST Vat (company has a branch in karnataka also)
Thanks & Regards,
Rajesh.



Anonymous
21 September 2012 at 16:33

Fixed asset purchase quotation

Our Statutory Auditor marked in Audit Report that for purchase of Fixed Assets their should be minimum 3 quotation taken from different vendor

i wana to ask that under whihc law or rule this is mentioned to take minimum 3 quotation



Anonymous

AS per the Constitutional amendment 111 The auditor of a Cooperative society has to be appointedby its genenral body from 15/2/2013. At present audits are c arried out by departmental auditors appointedd by Registrar of co-operatiuves societies in several satates, State co-operative acts sttes that the accounts of a coperative society should be audited by Registrar . My question is wethet the audit by charted accountates will replace the audit by departmental auditors appointed by Registras. What all will be the role of Director of Co-operative audit in the States whether they have to be eliminated in a phased manner Please air your views


Deendayal Lekhraw
21 September 2012 at 13:25

Section 269t

Let me know that under section 269T the language mentioned is repayment of loan or deposit but if we give loan & advances to other person then it's means only payment of loan not repayment of loan so whether we have to mentioned these in our tax audit report u/s 44AB in 3CD or not. Am I wrong or not please clarify



Anonymous

Dear experts,
Can you please share me the procedure to get concurrent audits of a private banks (Icici Bank, Hdfc Bank)
Apart from the above what kind of work a private bank can give to a CA firm for outsourcing.

Thanks






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