Newly appointed auditor sent a letter to previous auditor requesting NOC.

Previous auditor asking for copy of resolution from new auditor to check validity of appointment.

Whether a previous auditor may ask for a copy of resolution for appointment of new auditor to check the validity of appointment in reply of NOC letter of new auditor.

Hi Experts,

I want to know the excact meaning of term "Profession of Accountancy" within the CA Act & regulations.

Please revert me soon, it buring issue for me.

Thanks in advance.

I am confused regarding the application of revised schedule VI. Can anyone please tell me for a private limited company having a turnover of 5 crores approx. what should be the form of b/s and P/L to be presented in the audit report. Can we continue the format used in the previous years i.e. schedule VI or will we have to apply revised schedule VI?? Please resolve

Procedures to be complied with while conducting Stock Audit Verification and its due date for submission of report

Dear experts please solve one of query coming in mind regarding sales tax rate:

1. How a tax auditor confirm rate of VAT
of various items showing in books of
account of the client.

Example:
A Proprietorship trading firm which deals in hardware items shown different rates of VAT on item purchased & sale say 4%, 5%,14%,2%, taxfree.

There are people who are trying to get there accounts audited with tally data only and not giving any sales, purchase bills.

2. There activity seems to suspecious and
look like that they have manipulate the
sales & purchase with diff. rates to
evade the sales tax liability.


3. Also seen some accounts book in which opening stock is NIL & have closing stock. Further no VAT receivable or payable shown in books of A/c's

Please guide what is the possible thing that these type of traders trying to do & wish to get there accounts audited.


Please replied fully & elaborately.

Regards

Dear Colleagues & Experts

In revised Schedule VI of reporting format does previous year i.e 2011-12 figures also need to be rearranged and re-present as per new format?

There might be some information which might not be available specially in case when there is change of auditor for F.Y 2011-12.

Please suggest what to do in that case & what precaution need to consider while auditing F.Y 2011-12.

awaiting for earliest & best reply.

Regards

HEllo
Is it compulsory to file ROC return by a Qalified Company Secretary?

Hi all

I want to know what are the cost records which should be maintained by company since we have to comment on cost records clause mentioned in caro.

I am doing auditing of manaufacturing company have plants all over India.

Amit

Dear Sir/Madam,
!! URGENT Reply Required !!
I just want to get an expert advise on following issue:-
1] If a person is carring business of Sell & Purchase Of Gold jwellery and Money lending on hypothecation of gold, then how his turnover is deceded for Audit purpose?

2] If Person is only carring bussiness of Lending Money on Hypothecation of gold then , when he will be eligible for Tax Audit?

Sir,
I have a query regarding prior period expenses. if exps relating to year 2010-11 are entered in the books of year 2011-12 and also the bill is of date before 31-03-2011, what shall be the tax treatment?