1. How to calculate interest on fixed deposits when we are auditing a company having fixed deposits.

2. How to differentiate between accured & received & how to calculate that accured amount.

Q 1.Whether audit of all LLPs would be mandatory?
A. The accounts of every LLP shall be audited in accordance with Rule 24 of LLP, Rules 2009.Such rules, inter-alia, provides that any LLP, whose turnover does not exceed, in any financial year, forty lakh rupees, or whose contribution does not exceed twenty five lakh rupees, is not required to get its accounts audited. However, if the partners of such limited liability partnership decide to get the accounts of such LLP audited, the accounts shall be audited only in accordance with such rule.
The above q & a has been downloaded from MCA Portal on audit of LLP. It is clear that both conditions are to be fulfilled i.e. Rs.25Lacs contribution and Rs.40Lacs turnover for statutory audit of LLP. However,while going thru the subject on CA Club, I find that majority view is that if one condition is fulfilled audit is required. Would any one clarify the correct position?
Also wish to furnish the following additional information FAQ:LIMITED LIABILITY PARTNERSHIP
FAQs ON AUDITORS
1. Which Companies require audit?
As per Rule 24(8) of the Limited Liability Partnership Rules (LLP Rules), 2008, every
limited liability partnership (LLP) which fulfils the following two criteria is required to get its accounts audited
a. turnover exceeds Rs.40 lacs in any financial year and
b. whose contribution exceeds Rs.25 lacs in any financial year.

2. Will there be a requirement of audit if an LLP fulfills any one of the criteria mentioned in Question 1 above?
Under Rule 24(8) of the LLP Rules, 2008, an exemption from audit is available for all
those LLPs which fulfill any one of the above mentioned criteria.

Q.2.Is there any format of audit report, P & L
& B/Sheet specified in the statute?

Q.3. Whether amount of interest on capital remuneration to working partner & share of profit credited to capital a/c during the financial year (after formation of LLP) amounts to contribution?

Many thanks in advance.

Sale of business is 8000000 for A/Y 2013-14.
Profit is 160000. Whether there is any liability for Audit.

sir,
My client is a trader dealing in cement.His turnover is less than Rs.1crore,he wants to get his books of accounts audited for bank loan purpose.
I am a new, just qualified CA, please guide me about how to perform the given task.

in the audit report where cash flow need to make?there is any threshold limit for it/

Respected Sir,

The company has overdraft facility and year end balance is Rs.18 lakh. Further, The company has taken loan of Rs.15 Lakh for purchase of new asset from bank which is used for business purpose.

Whether CARO will Applicable or not ??

There is a requirement of 2-3 article assistants in our firm.
How to get the same?
Please help me out.

Can any one explain me in precise ,what is meant by capital consumption

Can any one give a list of papers to be collected while doing audit in companies????????

how to calculate the net worth of a private company ?