can chartered accountant in practice appointed as additional directors?

which is the best audit book for practical purpose i.e for 1st year article student

As per Clause 8 to the Chartered Accountants Act, incoming auditor must communicate with the retiring/outgoing auditor.
What if there is a practical impossibility in doing this, for example, the old auditor has expired.

Can statutory Auditor and Internal auditor of a Private limited company be Related Parties.??

Can anyone tell me how to deal with the investment item - Mutual Fund while doing the audit. What are the additional documents to be verified. And what measures to be taken if it has been fully redeemed? Is there any fixed period or can redeem at any time? How to know all these? What are the supporting documents to be asked for?

How to prepare the MIS?

Dear Experts,

There is one private limited company whose turnover is more than 50 crores and paidup capital is 50 Lakhs.

The statutory auditor after the approval of directors has outsourced the tax planning and accounting work to his wife(Not a CA, only B.com Graduate).
Now the statutory auditor's wife is doing the accounting and tax planning work for the same company.

Now the Statutory Audit done by his husband is valid and whether he is an interested auditor?

Dear Experts,
Can i give internal audit report in Ratio Anlysis form too so that it appears different and new for them. Probably they might like it?
Ur suggestions are invited.
Thanks & Regards,
Rajesh.

Dear Experts,
Can anyone provide me an internal audit report for a private limited company covering all the elements in balance sheet and profit and loss account.
Their contributions are highly appreciated.
Thanks & Regards,
Rajesh.

Sir,
Please tell
Suppose my ICICI bank had balance on 31/03/2011 as per book is 150000/-
but one cheque presented for payment in bank on 4/4/2011 for Rs.10000/-
As per bank as on 31/3/11--- 160000/-

Now my question is while preparing the balance sheet on 31/03/11
which balance should we take in balane sheet

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