I am a newly qualified Chartered Accountant. I don't have experience in audit during the Articles training. Now I joined in an audit firm. They have asked me to do limited review of a listed company. Can any one please let me know the detailed and step by step procedure for carrying out limited review and areas to be concentrated?
Please please help me in this regard

In case of investment in subsidiary, if the networth of the subsidiary is nil or negative what is the value of investment?

1.Can a Private Limited Company which is a consultancy company carry internal Audits under the Companies Act 1956, by employing both Qualified and non Qualified persons?

2.To Carry the Internal Audits for any Companies, is there any requirement that only Professionally Qualified Persons has to Carry the internal Audits?

Whether a company can be appointed as an internal auditor of a company

Hello members my query is regarding application of sec 226(3)(d) which specifies disqualification when auditor indebted to co. for sum exceeding 1000 and also it has been specified in code of ethics that a member should not owe more than 10000 to any concern whom he is considering for audit assigment. Whether the same will be applicable for Banks i.e. nationalised banks where one of the partners has taken loan. is the above disqualification for statutory audit only. or do concurrent audit and revenue audits are also covered for the same. please reply urgently.

Hi,

Pleas say what is the meaning of Deemed Income OR deemed profit.

Regards

Hi sir,

Please say me that if a Pipeline contractor spend rs.80,000.00 on machine repairs on his site is it a Direct or indirect Expenses.


Regards

Query relating to ceiling limit on audit u/s 224 (1B) of Companies Act, 1956:
Suppose there are three partners X, Y and Z in a CA firm XYZ & Co.
X is also having proprietorship concern and have 10 assignments for the purpose of section 224 (1B).
Now my query is that whether X can sign more than 10 balance sheet in the name of firm or not?
Please reply with reference of specific section or notification.
Thanks in advance.

I Just a B.com graduate and I am redering some professional Services & Some other Services ( Data Entry Services )& Sowrcing manpoer.

TDS deducted on professional income of Rs 8,000,000 of u/s 194 J & on other services on total amount of Rs 7,00,000 under some other sectione.
Would I be liable for Tax Audit.
If Yes the under which provision. Tax audit date has also passed. Advice what to do

we have made prefential allotment of share....we have alloted shares to promoters at par while to the outsiders at premium now the managment has raised the issue to wards this statement....... kindly tell me how to justify this statment