The Society land conveyance deed was executed in favor of the society on 01.Oct 2019 i.e. during the FY 2019-20.
The Land now becomes asset of the Society.

However, while preparing the financial statements, neither the Managing Committee nor the Auditor considered this fact to include this land as an asset of the Society. There are few more assets which are also not considered while preparing the financial statements.
When brought it to the notice of both, the auditor is of the opinion that this is a technical error and will be corrected in future years.
My question is that, does this amount to negligence on the part of Auditor? Can it be referred to disciplinary committee?
Thanks

Sir,
If the Total Turnover or Gross Receipts of an Individual having business income more than 1 Crores and Less than or equal to 2 Crores but the Profit are lower than 8% or 6%. Is Tax Audit applicable or not?

Dear Sir,
how to do grant amount temple audit
Please share me format

Case:
In a branch of a bank, there was a complaint lodged by one customer about the opening of the account without his consent. The concurrent audit came across the complaint and while enquiring with the branch, it came to know that the account was opened and closed in last year and the complaint was lodged in the subsequent year. Further, the complaint was forwarded to the legal dept of the bank and the reply was communicated to the customer. The customer never came back later. Also, there were not many transactions in that account.
The concurrent auditor, in his best judgement, assessed the risk of the incidence and was of the opinion that since the account is closed in the last year itself, there is no risk to the bank. Thus, he did not put it in his audit report.
Later, in the subsequent year, RBI audit officer pointed out that there was a complaint but it was not mentioned in the concurrent audit report. Does this amount to professional negligence? What would be the consequences on the auditor?

We file many tenders and submit EMD to Tendering Authorities for tender submission. Our Auditors are asking for receipt/ proof of EMD payment by concerned Tendering Authorities. These tenders are filed on portals like E-Procure and EMD is generally in the form of DD, Online Payment and Bank Guarantees.

Is there any way to obtain substance for EMD payment in this case? Please guide.

Sir, Builder after allotment of commercial units to individuals has formed Condominium on the basis of registration deed and transferred corpus fund to the condominium

Condominium has taken pan number on the basis of deed of registration.

Condominium does not have certificate of registration

In such case , statutory audit of the condominium will be conducted under which act.

In first year of condominium, what are documents and accounts to be taken from builder

Sir
What is the last date for filing returns for Co-operative Societies for FY 2020-21? It normally is 30th Sept, 2021. Has this date been extended?

Regards
Joviano De Souza

Association as per registration deed formed under Maharashtra Apartments Ownership act
Is required to be registered under societies act or any other act

And if yes, who can do the statutory audit of the association

Pl advise

Hello Sir/Madam,

Requesting clarification on BGL accounts -for what purpose is it used?
what are the types of entry under this account?
what is the prominence of BGL a/c's in bank audits?
Thanks in advance

I have completed B.com. I want to know the Article ship requirements (In months) for CA Inter & CA Final Exams through Direct Entry.

Please can you explain me!