what is the step of finalisation of P&L & B/S

1.How to verify LC devolvement and BG invoked.
2.A company has working capital limits from different banks. Then how to verify whether the company has utilized for business activity or for capital expenditure.

what is an assertion level of risk in risk of material misstatment ??? kindly explain with examples

Iam a chartered accountant having 3 years expereince in Indirect Taxation & Accounting. I had a good exposure of Auditing during my article ship. now iam working as a Tax Research analyst in MNC and is desirous of pursuing Certified Internal Auditor (CIA) coupled with CISA. Will these two qualifications yield better positions in Auditing irrespective of the fact that my experience is in Taxation and Accounts (Excludung my Articleship)?

if CA was statutory auditor of ABC co for a.y 12-13 ... now if he is a statutory auditor of ABC co for a.y 13-14 then whether he should issue engagement letter again to co?

a trust has excess of income over expenses. can it claim expenses on purchase of Fixed Asset in its statement?

what will be its position in the same situation in case of more of expenses over income?

or
the answer is to claim expense on FA in both the situation?

what is an assertion level of risk in risk of material misstatment ??? kindly explain with examples

In my company 2 entries are made for payment of interest in EPC A/c as follows,
In EPC A/c
1)Bank interest EPC limits 1,99,525
To. Bank EPC A/c 1,99,525
In CC A/c
2) Bank EPC A/c 1,99,525
To.Bank CC A/c 1,99,525
Why this practice is followed, is it correct?
If yes, then why?

what is anamoly?

While reconciling it was observed that
In case of one party bills booked on time but not paid for two years. However party not asked for payment for that specific bill.Then can we put that bills in suspense. Other wise rest account is reconciled. if yes should we put in suspense in current year because balance sheet of previous yr is finalized. Let me know accounting treatment. Also let me know if there is any other alternative accounting treatment