Sir,
while doing audit of a firm i observered that the Firm is issuing its Sale Invoice for the material that it is rejecting against its own purchases.And by this it is increasing its sales unnecessarily. In my opinion it is not a valid treatment of Purchase / Sales return.
What are your opinions on this point ?.

Dear All

My client is having two business (firms) subject to IT Audit for AY 2013-14 and he has merged the same in one partnership firm. IT audit will be there for two firms up to the period of merging but what to do about balance sheets figures. like Capital? Cash & Bank, Debtors etc

Pls guide me in this case???

As per SA-700 Forming an opinion and reporting on Financial Statements (REVISED) Management may depart from requirements of financial reporting framework to achieve fair presentation of Financial statements but this is possible only in very few cases." Can anyone please give me a suitable example to clear out this stanza.

dear experts,

4500
5500
6000
5000
here 5001-6000 is 2 nos.

i want to do it by excel formula please guide by appropriate formula. this is required for my profession tax summary works

please help

could i get the guidelines in concurrent audit for banks?

Dear Sir,

Can a Full Time Employed CA can become a Partner in CA Partnership Firm.If yes,then Explain How,and if not then WHY not?

Sir,

Iam doing an Audit work of a Company For the Financial year 2003-04 & 2004-05. Now, I Want to know the applicability of Revised Schedule VI format for those years.Is it necessary to apply revised format for preparing Audited Financial statements of previous years.

Can a member be an Tax Auditor of a company being a Sole Proprietor and also be a Internal Auditor of the same company as a Partner of the Firm doing Internal Audit.

Like: A is a sole proprietor and a partner in Firm ABC too. He is doing Tax audit of XYZ Company. The XYZ company's internal audit is done by Firm ABC.

Is that Legal as per ICAI rules?

Dear Everyone,

We have a partnership business (manufacturing) in Mumbai. We were under impression that Turnover threshold for Tax audit has been raised from 60Lacs to 1Cr. In financial year 12-13 we did sales of 62Lacs.

But our CA has informed us that we will have to do sales tax audit as its threshold is 60Lacs. Only income tax audit limit is 1Cr.

We are confused. Do we have to get sales tax audit done ?

if a firm take any auditor ship of the company then can partner wife take the retainership for book keeping or not