I seek your guidance in the following matter :
Para 1 of the Companies ( Auditors Report ) order 2015 excludes a Pvt. Ltd. Co. if its share capital & reserves are less than Rs. 50 Lakhs , has not taken a loan exceeding Rs. 25 Lakhs from Bank & does not have turnover more than Rs. 5 Crores .
I have a Pvt. Ltd. Company which fulfills all these conditions & hence excluded from the Report Rules .
However , the same Company has :
(a) Defaulted in payment of Service Tax & other statutory dues for more than 6 Months ,
(b) Accumulated loss which wiped out its Reserves & Surplus completely , & (c) Has incurred Cash loss in 2014-15 & 2013-14 .

In these circumstances , should I qualify my Report or Not ?

Please do enlighten me on the above matter

Our Statutory auditor is asking for every working like:-
1.Reconcilation of st-3, tds return with books of accounts.
2.Related party transaction like amount of directors remuneration, sale made to sister concern during the year.

Our electronic software depicts every information still she require working from our side.
She has to report in notes to accounts or audit report whatever is the purpose but i just want to ask whether is it the CA profile ask the client to do the working and quote the figure in the report as it is.????????????Please reply

what is the difference between one person company and proprietor ship?

Hello, hw to verify bank reconciliation statement & tds of a non profit organisation,to be specific, a medical college?

Dear Sir,

We know that an independent auditor should not provide certain non-audit services to the client and one among them is investment advisory services.

If an independent auditor is giving some presentations ( Projections of profitability, cash flow etc of the client ) before the prospective investors ; would it be considered as in the nature of investment advisory service ?

Kindly explain.

Thanks in advance for all your inputs.

My last year ( FY year ending March-14) turnover is audit case (above one crore) i got my books audited.
Current year ( FY year ending March-15) turnover is less than one Crore.
Am i liable for Tax Audit.


Till now i have not taken TAN, am i liable to get the TAN, if i have not claimed any expenses above the TDS limit.
Because as per by business situation in future my turnover will be less than One crore thats why i dont want to take TAN.

Please guide.

Hi.. There is an asset management company (private) which values its investments in equity & mutual fund at cost. Whether accounting treatment is correct. AS-13 (Accounting for investments) is not applicable to the company.

Please suggest.

Major concerns during statutory audit of companies according to new companies act 2013.

Hello and Good Morning Everyone,

I have query regarding statutory audit of pvt ltd company engaging in education (coaching,etc.) sector.

I want to know the steps from the very beginning of stat audit of the said company. Also, let me clarify how to do this because I am only the article assistant in a ca firm and not done any audit before.

Please share your knowledge.

I had already uploaded 3CB & 3CD within 30 Nov 2014 but not approved till date.
1. what will be the consequences?
2. what will be our next step, whether approve now or not?