Hi Experts,

Just had a query, a company is entering advances in the name of vendor without intention to pay them off, what that means. the entry they are passing in books

Advance - Dr
To, Creditors.

Is this something suspicious

Dear Experts;
Time limit for submission of Compliance Report – Every company shall submit the compliance report referred to in rule 5 of (Cost Accounting Records) Rules, 2011, to the Central Government within 180 days from the close of the company’s financial year to which the compliance report relates.My query is whether time limit for submission of compliance report by the Cost Accountant cab be extent and what is the procedure for the same, kindly guide as soon as poossible.

weather school audit is included in the statutory audit limit explained in the act

Audit report filing is mandatory in form 3CB however ICAI has revised the format of Auditor's Report. How can I comply both the requirements in e-filing of Audit report?

Is their any changes in the format of 3CA, 3CB and 3CD of audit reports....??? If yes then what are the changes...??? If yes can you give new format of that reports...???

wheather CARO is applicble on the foiergn co or not?

IS it possible to pay excess dividend in the case of redeemable preference shares.

Example :

can 20% dividend be declared on the "10% redeemable preference shares.

for finance purpose the bank has insisted to certify the provisional balance sheet of client . How to certify a provisional balances of ledgers and balance sheet Please send the format for certification

is it mandatory to follow sa 700(revised) issued by icai ?

I was an auditor for the ABC -a pvt. ltd. company for the FY ended on 31-03-2012, accordingly carried out an audit and tax audit for the said year.
Recently, I have received a notice from the lawyer stating that the said company has committed any irregularities during that year and therefore the said Lawyer has asked me to give him certified copy of the Annual accounts and details - outstanding wise details - of the Items appeared under "Unsecured Loans" in the balance sheet.The Notice further states the Accounts being public documnets, if I do not hand over it will be presummed that I am also a party to the said irregularities and therefore the said lawyer will also proceeds against me. The copy of the said notice is also sent to the Registrar of the Companies.

Help Required:
Under the circumstances, I would like to know that Can an auditor give copy of the accounts to the lawyer ? Also, the ICAI's guidline about disclosure of the information to the third party, if any, may also be relevant for me. How to give reply to the said notice.

Kindly help me by giving your valued opinion and suggestion on the matter please.

Jatin