i am a artice in a ca firm. we recieved a new audit of a pvt.ltd. co during the f/y2007-08.
i did the audit.
i found that in f/y 2006-07, the co. made a advance payament of rs 500000/- for a machinery and debited under the machine a/c.
in the current f/y they realise that mistake they rectified their mistake by crediting the machine a/c by rs 500000.but before that they have claimed the dep. on that amount. and their income tax return has been submited in income tax. now what should i do?

Hello,

1)I want to know the laws applicable to the above.

2) when the Superannuation Fund (SF) is transferred from a company located outside india to a company located in india how is the treatement given for gain on foreign currency

Is there any particular section under companies Act which deals with Special Economic Zone companies.

Or Is there any separate Act as such ?

How does the Audit will be conducted for such units ?

i mean is it possible for a chaitable society to get its last ten years books of accounts audited with the auditor signing in todays date?
(the society has not claimed exemption under section 11 & 12)

pl tell me if washing allowance is included while computing wages for ESI(employees' st insurance). For Eg: basic 6000/-, washing allowance Rs.200/-. employee's contribution will be 1.75% of what amount?

what will be wages for the purpose of PF? is it basic salary or basic + allowances?

WHEN THERE IS UNAUDITED INTEREIM FINACIAL STATMETNS, IS THERE ANY REQUIREMENT FOR ENTERPRISE OTHER THAN COMPANY TO FOLLOW AS-25, AND OTHER THING WHEN IT IS COMPANY AND UNAUDITED FINANCIAL STATMENTS ARE THERE AND AS-25 IS NOT FOLLOWED THEN IS THERE ANY RESPONSIBILITY OR OBLIGATION TO REPORT TO IN STATUTORY AUDIT REPORT OF STATUTORY AUDITOR.
PLEASE REPLY.

In one of my interview i was asked to sort out seven diffrences between Statutory Audit And Internal Audit?

But , i was able to give only two diffrences.

Can any one give me more diffrences on
Statutory Audit And Internal Audit?

regards

Premal Gor

Dear All,

Please tell me applicability of Maharashtra Labour welfare Fund Act.

Regards
Anil yadav

Is R.B.I. (Reserve Bank of India) audit a good exposure to Audit work?Or commercial banks only will prove beneficial?
how r audit working papers maintained?
is there any other report 4 article asst. to maintain? pls clarify. thanx

Dear Sir,

I would be obliged if you kindly provide me some information on "Stock Audit" conducted by CA Firms on behalf of Banks.

Thanks ad regards,

Shankar