can a CA audit the company where his wife holds 60% of shares and 40% is held by his father.
if so should he disclose the relationship in the audit report.

can anybody send me amendments in standard of auditing applicable for may 2011 pcc urgent

In one company, one legal lawyer is appointed as a director.
Before his appointment, he was paid some amount for awailing his legal services in the capacity of Lawyer for some law suits...
Is there any requirement to disclose such payment under AS 18??... if yes, then where should I disclose??...

can any body tell me how can audit to a firm / bank
what r the things which we take care when audit

Do we have to make any disclosure in the Notes to Accounts of a company that has no activities & is hence dormant [Co Law filing of Annual Returns, Balance Sheet, etc are done regularly].
This also does not fall within the scope of 'Discontinuing Operations' as no activity has been formally discontinued.

Hi

Pls guide me on Internal Audit of Mfg concern.

Pls mention specifically abt inventory,costing,environment,energy audit also if not covered above

Provide complete guidelines,Laws or even best books covering above area & thr expected cost also

Thanks in advc.

One of our client in real estate business developing various types of flats, commercial plots and later on selling the same. For the viriuos reasons they have to give variuos types of bank guarantees to variuos authorities.For issuing the bank guarantees,bank is keeping margin money. On this margin money bank give interest on a regular basis.
Whether this interest income need to be deducted from the project cost or should we credit this to the Profit & Loss Accoubt as income?

As per the Mercantile System the expenses/ income due/ accrued should be provided in the books of account. My query is that as per the RBI Guidline the interest on the Saving Bank Account should be calculated on the daily basis however in the books of the account of bank such interst is provided at the end of the month and not on daily basis. So whether there is violation of the Companies Act, 1956?

The accounting year of the finacial year ends on 31st March, on that date the finacial statement prepared. While checking the bank reconcilation statement we have noticed that some of the cheques issued by the client and remaining outstanding as on 31st March have become stale during April, subsequent to March.
Should we ask the client to reverse the cheques as on 31st March i.e. as on the date of the financial satement.

The client is of the view that the event occurs after the date of the financial statement, these need not be reversed.

One of our client is in the business of the real estate development and sale. At the beginning of the project they construct a sample flat to show the prospective customers- its nature and the area etc.

Usually after the construction of the whole flat anf handing over to the customers, this flat is being demolished. The area on which the sample flat was there is being used for other purpose.

What will be the treatment of the cost of the sample flat? It will be added to the cost of the other flats being constructed or its cost is being charged off in the revenue statement?
Client is of the view that after the demolising the sample flat some thingh is being reusable?- waht will be the ttreatment of that?