Please any body send me the things to be considered as per company act 1956 of india while doing audit of a subsidiary(private)company of a private holding company. Urgent.

cumulative loss is greater then loan+ capital so sources of fund is negative.net current assets is negative and which is more then fixed assets so application of fund is also negative.
CAN WE SHOW THE NEGATIVE FIGURE IN SOURCES OF FUND AND APPLICATION OF FUND IN THE AUDITED BALANCE SHEET.

in a trading organisation where the company is operating all india basis and having the warehouses in every state. should the freight paid on stock transfer from one branch to another against form-F be included in the cost of inventory.

in a trading organisation where the company is operating all india basis and having the warehouses in every state. should the freight paid on stock transfer from one branch to another against form-F be included in the cost of inventory.

Dear Sir,

I qualified as CA in May11. I applied for
membership in july and for COP in august,11.

Now my status on members' search is showing
not holding COP and when I called bombay office today, they told my COP is activated from 25-8-11 i.e. on the date of submisstion of COP application with draft.

I wish to sign audit report.

Can I sign the same in My Individual Capacity with my membership number?

Institute people have called that My letter regarding COP will be received soon.

Please suggest.

Dear Experts

I am in delima in deciding what to do in case of a assessee whose turnover is abt. 20 Lacs & asked me to do Tax Audit U/s 44AB.

On verification of the books of accounts it is found that number of times cash purchase was done above Rs 20,000 thereby resulting in contravention of Sec. 40A(3).

My query is that:
"is it possible that i conduct the tax audit u/s 44AB mentioning the details of Sec. 40A(3)contravention in 3CD report AND FILE THE IT RETURN UNDER PRESUMPTIVE TAXATION SCHEME U/S 44AD so that contravention of 40A(3) would not be applicable to him"

The purpose the client wish to get accounts audited is to get bank loan as bankers asking him for audit report.


Please suggest is it possible to do or suggest some other alternate solution.....

Very thanks in advance for solving the delima.....


Regards

I have read in theory of audit that,

while auditing Work in Progress, the Auditor may advise his client that where possible the Work in Progress should be reduced the minimum before the closing date of financial year.

why, is its so ??

Please let me know,
is it necessary to disclose, the balance of chq in hand ( received from debtors) along with cash and bank balance, in the financial statement the last day of the accounting year.

And, in what respect it would affect, the financial statement materially on non disclosure ?

Experts' opinion please.

Thank you.

Dear Experts

I am in delima in deciding what to do in case of a assessee whose turnover is abt. 20 Lacs & asked me to do Tax Audit U/s 44AB.

On verification of the books of accounts it is found that number of times cash purchase was done above Rs 20,000 thereby resulting in contravention of Sec. 40A(3).

My query is that:
"is it possible that i conduct the tax audit u/s 44AB mentioning the details of Sec. 40A(3)contravention in 3CD report AND FILE THE IT RETURN UNDER PRESUMPTIVE TAXATION SCHEME U/S 44AD so that contravention of 40A(3) would not be applicable to him"

The purpose the client wish to get accounts audited is to get bank loan as bankers asking him for audit report.


Please suggest is it possible to do or suggest some other alternate solution.....

Very thanks in advance for solving the delime.....


Regards

if a CA person has enter into a merger with other CA,, then that CA can do audit in his own name....The total no of audit will remain to 45 only..