abhijit majumder

To
Fellow members
As per Companies Act 2013 Auditors Report should signed by the Statutory auditors.
We noticed that Financial Statements(B/S, P/L, cash flow statements etc) signed by two directors on behalf of the Board and CS &CFO(if any) and also by Stat auditors.
My query is : Is there any legal provision(s) which made the auditors to sign the Financial statements.
More particularly what is the legal logic, on the basis of which auditors signed the Financial Statements.
All fellow members opinion is sought for.
Regards
Abhijit


Shakthi
28 November 2022 at 10:49

Legal opinion AND vETTING

Dear Experts
Whtats the difference between Vetting of documents and legal opinion

Thanks


sunil c online

Sir/Ma'am,
As per Revised Sch III of Companies Act 2013, Company have to provide Disclosure requirement for the Money Borrowed from Banks /FI which includes:
1)Details of the Fund Raised
2)Name of the Bank/ Financial Institution
3)Purpose for which amount was sanctioned
4)Purpose for which amount was utilized
5)Amount diverted/ remaining unutilized
6)Remarks if any
The information to be provided under this disclosure should be for the period under review i.e. F.Y. 2021 - 2022


Aryan
09 November 2022 at 18:41

GST audit, transfer pricing audit expenses

Dear Experts,

Please confirm about these expenses book in which head in books.

1) GST auditor bill- We have booked in " Legal and Professional Charges"
Will it be booked under "Audit Expenses"?
2) Transfer pricing audit expenses-We have booked in " Legal and Professional Charges".
Will it be booked under "Audit Expenses"?


MAHENDRA SHARMA
04 November 2022 at 17:59

Intimation to previous Auditor

On which date intimation has to given to previous Auditor, before appointment of new Auditor or after the Date of AGM in which new Auditor has Appointed as Statutory Auditor.


CA Pooja P
30 October 2022 at 20:47

44AD Audit Applicability

The assessee is a proprietor.
For A.Y. 2022-23, his turnover is Rs. 1,84,00,000 (below Rs.2Cr), profit is Rs.1,50,000 ( below 6% of turnover) and total income is below basic exemption limit.

Is audit applicable ?


sunil c online
12 October 2022 at 13:27

SMALL COMPANY EXEMPTION UNDER CARO 2020

Small Company Definition
Old - Paid up Capital should not exceed 50 Lakhs & Turnover should not exceed 2 Crores
New Amendment - Paid up Capital should not exceed 2 Crores & Turnover should not exceed 20 Crores

A Private Limited Company being Small Company as per new amendment as stated above but complies with one of the criteria (Loan exceeds the limit) mentioned in CARO 2020 applicability.

Shall CARO will be applicable to the Company as Small Companies are exempt from the CARO applicability as per Section 143(11) of Companies Act ?


Hitendra Agrawal

COMPANY IS UNLISTED AND ITS HEAD OFFICE IS AT SINGAPORE. ITS REGIONAL OFFICE IS AT DUBAI, INDIA AND AFRICA.

WISH TO KNOW IFC APPLICABILITY ON THESE 4 ENTITIES?


Anand Datla

Greetings

Can you please share a IS Audit checklist for banks?

Anand


GAURAV PHADNIS
22 September 2022 at 12:46

About Office Interior

In Financial Year 2021-22 There is the Office Interior Was Done of Rs. 3200000 Approx and My WDV Amount of Office Premises is Negative Then Can i Consider the Office Interior has Office Premises or Not. The Interior is About all Office Furniture Cabins Staircase n all.. Please Suggest Something.....





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