The profit in proprietary concern is about 0.80%, is it mandatory to get the book of accounts audited by a CA. (may be Section 44ab)

The total turnover (net of sales) = 18,35000.00
Profit = 15000.00

15000/1835000 = 0.81%

please help.

The company had a contract for purchase of Capital Goods with the related Party. The contract Value is morethan Rs.5 Lakhs, my Query is whether we have to disclose that Under Clause4(v)(b) of CARO?

I want an appointment letter sample that the company will issue to new auditor after removal of previous auditor u/s 224(7).

What is the meaning of Turnover for Audit Purpose? Does it only mean Sales, Turnover and Gross Receipts or we should also consider Puchases for this purpose?

Hello friends, i m doing audit of a car dealer company in which they are purchasing car from the mfg and among those cars they are purchasing some car for test drive purpose. They capitalise those assets which is right but the issue is date of capitalisation....
For Exp they pur car on 1.10.2010 at that time management has not decided to use it for test drive, after magt decision in the month of jan11 they reg the car in thier name and use it for test drive. In this case tell me the date of capitalisation whether it is 1.10.2010 or 1.1.2011

If normal debtors are reinstated at TT buying rate at year end, then whether debtors with closing credit balances should be revalued at TT selling rate?

Kindly clarify which rate is to be used for reinstatement of debtors with closing credit balances??

Pls suggest me wheather a 100% Export company which annual turnover exceeds 109crore is liable for Internal Audit as per caro.

Dear Sir / Madam,

Please explain about 360 degree appraisal & its benefits.
Which big companies have implemented this?
what are procedures to implement this in our organisation. As being an internal auditor of the company wud like to suggest new ideas which cud benefit the company.
Thanks

I am planing to comeback to Kozhikode,Kerala after my 17 years of stay overseas. I am a CA, more than 18 years of experience in Auditing and Finance. Can you guys advise me what I can do there? What is the best option for me?
Regards

Thomas

I have five firms which are under my proprietorship. Out of five, three are eligible for audit because sale exceeds audit limit and the remaining two are below audit limit figure. Whether I would have to get all the firms audited or only three firms audited for income tax return filing.