I will be greatful is somebody give me details about purpose of checking Bank Reco

While preparing Audit report of Private Limited Concern is it necessary to mention in Audit report clause relating to Section 274(1)g of Companies Act?

Can anybody give me PF and ESI compliance checklist for statutory audit...
Thanks in advance

Hello frenz,

Can anyone tell me in brief about FBT and TDS please.

as difference in foreign exchange rate should be charged to p&l a/c, one of my listed company client is adjusting such foreign exchange credit balance to sales a/c. saying that it ultimately charged to p&l a/c. is the treatment right?

Please tell me how to proceed with the WIP Audit of a pharma Company.and what all documents are needed????

A PARTNERSHIP FIRM HAVING 2 PARTNERS [HUSBAND & WIFE] CARRIED ON THEIR BUSINESS OF SAMPLE ANALYSIS. DURING THE MONTH OF JAN 2009 WIFE DIED. ACCOUNTING METHOD ADOPTED - CASH BASIS. AFTER HER DEATH, HUSBAND CARRIED ON BUSINESS IN THE NAME OF FIRM [INDIVIDUAL STATUS]. MY OPINION IS : BOTH BUSINESS ARE SEPARATE. HE HAD TO CLOSE BOOKS OF HIS PARTNERSHIP FIRM ON THE DAY OF DEATH OF HIS ONLY PARTNER. HE HAS TO TAKEOVER ENTIRE BUSINESS AS AN INDIVIDUAL ON THE SAME DAY AND HAS TO PREPARE NEW BOOKS OF ACCOUNTS FOR BALANCE PERIOD OF THE FINANCIAL YEAR. TAX AUDIT IS REQUIRED ONLY IF ONE OF THE BOOKS HAVE INCOME EXCEEDING Rs. 10 LAKHS. LET ME KNOW, AM I RIGHT OR WRONG ?

If there is no activity in the business during the year. Depreciation should be provided or not in such year?

The facts are as under:

1. I am the auditor of X Pvt. Ltd., who has pledged certain investments (shares in listed company) owned by it, to secure the debt take by its sister concern A Limited.

2. A Limited defaulted, consequently the lender of A Ltd. sold off the investments belonging to X Private Limited to recover its part debit.

The Query is:

1. What treatment should X Pvt. Ltd. give in its books and why? that is should is show as Sale of Investment or continue to show investment.

2. At what price should X Pvt. Ltd. show sale of investment (it also do not have the details as to the price at which the lender of A Limited has sold the investments)

Thank You

For confirmation, does the auditor directly has to send letters to the parties or the company sends it and asks to reply directly to the Auditor??