Dear all,

I just wanted to know that does the credit of interest to an unsecured loan calls for the auditor's disclosure regarding the same in the relevant point for acceptance of loan?

&

Whether opening balance of loan also required to be shown as loan accepted or not?

Plz rply.
Thaxs

Hello

The list of accounts prescribed under section 44AA is applicable only to professionals or any individual, firm and company having income or sales above the prescibed limit in the said section

can a single partner in case a firm of chartered accountant consisting of three partners ,can sign more than the ceiling limit

MY QUERY IS, A PVT. LTD. CO. WHOSE AUDITOR HAS BEEN EXPIRE APPOINT ME AS AUDITOR IN JULY'09, WRONGLY WE HAVE NOT FILE THE FORM 23B IN ROC, IN THIS SITUATION PLEASE TELL US THE PROCEDURE FOR FILLING THE FORM 23B OR PENALTY IF ANY FOR LATE FILLING FORM 23B.

THANKS

CA M.K. JAIN

DEAR SIR/ MADAM

AN ASSESSEE WAS DOING DURING THE YEAR 2008-09 36,00,000 AND HE WAS OFFERED NET PROFIT 61,000 N.P. RATIO IS 1.69 HE IS COVERED UNDER SECTION 44AB OR NOT

TAX AUDIT MEANS ONLY TURNOVER ABOVE 40LAKHS OR TURNOVER ABOVE 40LAKHS BUT N.P. RATIO IS BELOW 5% WHAT IS CORRECT. PLEASE TELL

THANKS IN ADVANCE

Under CARO a registered is required to maintain u/s 301. So, What is that register & what are to be written in that register.

How to calculate maximum amount involved during the year in case of loan taken/granted ?
Eg: If A ltd has taken loan from 3 directors.Whether maximum amount of each director will be added to come at maximum amount involved during the year ?

OR

maximum amount on a particular date during the year should be considered to come at maximum amount involved during the year ?

M/s A & Co, Chartered Accountantants, is getting statutory audit fee if Rs.2000/- . Can he get for rendering other services fee of Rs.3000/- from the same client.

Dear sir
Can u pls. tell me whether SEBI is bringing any proposal for internal audit activities to be carried out by Statutory auditors in stead of internal audit employees in an organisation.If so,

i)what is the ramification of such proposal.

ii)When it is going to be effective.

iii)What will happen to existing internal audit department staffs,qualified as well as unqualified.

iv)Will the existing permanent IA employees loose their jobs in the organisation

Thanx and regards
S.K.majumdar
Asst.Manager(IA)
Internal audit

pls help whether ass will apply in nov 09 exam or standard on auditing what we have to write ass or standard on auditing