Dear Experts,
Currently I am doing the audit of an educational institution. They are having a lot of earmarked funds and a lot of corresponding FDs.(The previous year audit was done by another auditor).
1) As per the last balance sheet the total of funds and the corresponding FDs differ ... Should it be the same..?
2)How should I treat the current year interests received.. What are the entries... ?
3)How to make the entries for the payments made out of the fund?
KINDLY HELP

can a stat. Auditor of a co. be appointed as its tax auditor

what is the procedure of internal audit & its checklist.further tell me the role of internal auditor in a manufacturing co?????

Whether PF can be calculated on the basis of number of working days?? Generally what will be the percent of basic salary on the total salary?

could u tell me the checklist of internal audit & procedure follow for the same

hi
if i want to take a bank audit
what r the qulifications.. requiremnts to do a bank audit...

plzz mail me to sweetkomal.17@gmail.com or komal_shah1990@yahoo.co.in

thank you..
regards

Hello Friends,

Can anybody tell me, what all are the reports that has to be prepared when auditing a charitable trust. As per my knowledge form 10B has to be given. But apart from that, if there are any other reports that has to be given, please let me know.

Thank You in advance

In PF act limit of rupees 6,500 is specified for deduction. If an employee has salary of rupees 10,000/- pm then whether PF is deductable on 6500/- or on 10,000/- or the employee has an option to ask his employer not to PF from his salary.


what about the employer's contribution in all above situation.


It will be more thankful if anybody reply will appropriate circular/notification/ case laws.

I had came to know that the calculation limit for ESI has increased from 10000/- to 15000/-. Whether its correct or not? If yes can u plz let me know the applicable dates, similarly whether their are any changes in PF also.

I have one client which is a ltd. company. Suppose it has made provision for taxes for the year 2007-08 Rs. 150000/-. And the actual tax liability comes in the assessment of this company is Rs. 125000. So Rs. 25000/- is refunded by IT department with interest. Now the problem is what accounting entry is to be passed for Rs. 25000/- which is a excess provision? Whether it should be debited to provision for taxes account or it should be taken as income.

Thanks