I am doing due diligence for a laboratory. can some one give me a draft due diligence report and some major points which should be covered in the due diligence report

Dear friends

I wish to clarify on the matter regarding the Auditor reporting requirement U/s 44AB of Income Tax Act, the fact of the case is as below:

1. In FY 2009-1o the assesse has not maintained the books of account U/s 44AA & submitted I.T.R under presumptive taxation scheme of the IT Act.

2. Now in the FY 2010, same assesse is covered under the Tax Audit U/s 44AB.

Query:
1. What is the reporting requirement of Auditor regarding "OPENING ACCOUNT BALANCE", in ANNEXURE-I & Notes to the account.

2. What precaution should auditor take in such case?

3. What are the Auditor responsibility regarding the matter?

Your earliest reply/suggestion in the matter is highly appreciated and thankful.


Regards

Dear Experts,

Please let me know what is the procedure for change of auditor in Private company

Please do reply


Regards,

Neha Dwivedi

DEAR SIR,

I WANT TO KNOW ABOUT HOW MANY AUDIT DONE BY CA IN WHOLE YEAR.I AM HEARD ABOUT SOMETHING 20 IN HOLE YEAR SO WHAT'S HAPPENED IF CA HAVE MANY MORE COMPANY AND PENDING FOR AUDIT.

THANKS

a public company redeme preference share in year1984-85.
As on current period this redeem preference share has been unclaimed.
So, what will be treatment in books regarding unclaimed redemption of preference share.

MY QUERY IS IF A PARTNERSHIP FIRM HAVING TUR. 41L IN F.Y 2010-11 IS AUDIT REQUIRED FOR A.Y 11-12 AS THE PROFIT OF THE PIRM IS BELOW 8% AND THE FIRM ALSO MAINTAIN THE BOOKS OF ACCOUNT U/S 44AA (AS THE 44AB CHANGED IN 11-12)

an pvt ltd co. has given interest free loan out of surplus fund to its group co. (mentioned in register maintained u/s 301).whether this will be treated as Prejudicial to the interest of the comapany for CARO Report [i.e. The companies (auditor's report)order 2003]

hey can anyone tell me which is the best book to study audit from for PCC??? I'v tried Surbhi Bansal but i dont think thats enough. suggestions plz :)

A CHARTERED ACCOUNTANT CAN SIGHN 45 TAX AUDIT IN A YEAR.NOW IF A FIRM TURNOVER IS LESS THEN 60 LAKHS , BUT HE WANT TO DO AUDIT , THEN WOULD BE ADDED IN THAT COUNTING (45 LIMIT)..........URGENT & IMPORTANT ....

would like to know if the company's net worth exceed Rs. 50L , than is it compulsory to appoint Internal Audit & should this internal auditor necessarily be CA

What if Company has its own internal audit team