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.

Can an Auditor from the Proprietorship firm doing Stautory Audit of a Company, perform the Internal Audit of the same Company as a partner from the Partnership Firm?

If uncle of the CA is a trustee of a Trust then that CA can except the statutory Audit of that trust ?
And whether any disclosure required by that CA in his AUdit Report

Sir,



Is there any law where powers of internal auditor is defined. what are the rights of internal auditor while conducting the audit. In what manner he differ from statutory auditor.

What details need to be checked in case of Incentives paid by pharmaceutical companies to its Medical Representatives for Sales & Distributions of medicines to stockists, retailer,etc?