I want to know step by step of Stautory audit of a company?

Hi

I am latha, i need a format of noc letter to be issued by previous auditor to the new auditor in both cases, tax auditor and statutory auditor.

post the formats to my email address as early as possible.

thanks and regards
latha

Dear Experts,

Shall I get a good Internal Audit Checklist suitable for HR & Admin Department audit.

I have a query in AS 12. Government Grants

A Co. have Claimed exemption from Entertainment Tax for a period of 5 years. As per exemption notification Company can collect entertainment tax from the puble to the extent of Rs. 15 crore ( Cost of Multiplex theatre) by selling Movie tickets. i.e.
Ticket - Ts. 75
Entertainment tax - 25
Total Amount to be paid by a person - Rs. 100/-.
Company under the exemption notification is not required to deposit Rs. 25 with Government Authorities. At present company is taking Rs. 25 to its Profit & Loss Account.

My query is, Why Company is not deducting Rs. 25 from the cost of Multiplex theatre by assuming Rs. 25 as Government Grant. ..???

Is it right that comapny is crediting the entire amount to its Profit & Loss on receipt basis.

Is there any chance when firm is not get audited and return is filed to income tax

WE HAVE FULL TIME 3 PARTNER IN FIRM
WE MAY DO THE 135 TAX AUDIT
WE HAVE 1 HEAD OFFICE AND I BRANCH
CAN HEAD INCHARGE SIGN THE 100 TAX AUDIT

Mr. A is a chartered accountant who his holding COP and practices as sole-proprietor with name M/s. A&co., chartered accountants. He is also a non-executive director in a Private Limited company. Now can the Pvt.Ltd.co., appoint Mr.A, as its internal auditor......In simple language can a director of a company be appointed as its internal auditor.....

Does the cost of depriciation should be included while calculating the cost of inventories ?

A proprietorship business is converted into partnership business in 1.10.2011.Assuming financial year 2011-12.

How an auditor should certify the financial reporting period in both cases, If in both situation same auditor is appointed ?

in a trading organisation where the company is operating all india basis and having the warehouses in every state. should the freight paid on stock transfer from one branch to another against form-F be included in the cost of inventory.