1.Debtors backed by Bank guarantee or letter of credit can be considered as secured debtors? if not pls mention the reason.

2.whether old schedule VI requires bifurcation of debtors into secured and unsecured?

Any 1 can just help me out in figuring whether Auditor can send Direct communications (Balance Confirmation Letter) to Third parties i.e. Debtors or Creditors of Auditee for confirming their balance as per books of Auditee...!!

If yes then is there any specified format for such letters then please give me a proforma of such letter..!!

if any individual comes under audit liability but audit not done in previous years than can we do the audit in this financial year

I want to pursue a career in System Audit...what are the necessary qualifications i need part from CA (m currently preparing for CA Final for May2012) do i need to do software testing courses or computer language courses???

Hi Friends

I am giving my group 4 CMA final (formerly known as ICWA) exams in the coming June 2012 term. As we know the cost audit has undergone number of changes and our institute's study notes appers to be outdated. Hence can somebody suggest me the best text book or a material for cost audit covering Cost Audit report rules, Cost Accounting records rules etc?

a listed public ltd holding company does not wish to consolidate the accounts of subsidiaery can it do it?

Dear all,

I have a doubt that, while auditing a company which has inventory, what are the methods or techniques normally followed by the auditors ? How can we assure about the figures in Accounts and its valuation?

I have given interest free unsecured loan of Rs. 50.00 lacs but i have paid interest on unsecured loans which have taken.

I want to know whether any problem will arise in future due to above transaction at the time of scrutiny of income tax departmen. if yes

what i have to do

CA Kusum Sorathia

Sir One of the assessee is a builder.He done some Fabrication Work in the sample Flat.The Party has given the Bill consisting of Material & Labour Without any TIN No. or Service Tax Registration No.

Whether my assessee shoud book the bill under URD Purchases and should pay the tax on the same or ask the party to give Bill with VAT TIN No. or Service Tax Reg No.

Guide me.

DEAR SIR,

WHAT ARE THE PROCEDGER FOR CHGANGE OF PREVIOUS AUDITOR & APPOINTMENT OF A NEW AUDITOR IN A PROPRIOTERSHIP FIRM