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?

hello...
i have a query.. i am doing audit of a partnership firm..
here i observed that salary payable is showing debit balance...
so.. suggest me what to do.. to correct this...???
hoping for rply...
plzz help me...

My primary source of income is salary of around Rs. 9 lacs. During FY 2010-'11, my share transaction (all short term) details are:

total purchase transactions: Rs. 72.37 lacs
total sale transactions: Rs. 72.26 lacs

total loss: Rs. 11 thousand


Now, please let me know the following:

1. My own capital was Rs. 60 thousand. Since I transacted on margin (i.e. on borrowed fund from brokerage firm) and there were around 100 transactions (45 purchase + 55 sale), total amounts of purchase & sale transactions both were above Rs. 72 lacs. In view of these details, is audit required for my share transactions?


2. Considering the above (& that 99.9% of my income came from salary), shall I consider the loss of Rs. 11,000 as Short Term Capital Loss? or, it is to be considered as loss from business?


Thanks

according to SA 320,audit materiality will be checked by auditor but if users' view of material information is different from auditor' view that means one thing is material according to auditor but by view of user that is immaterial , then What will happen?

Sir, what is the importance of journal vouching in internal audit and what the main issue which we should keep in mind while auditing journal vouchers.

Hi all

one of the joint auditors resigns from the auditorship and creating casual vaccancy, now question is that is it necessary to fill the casual vaccancy in general meeting or the company can continue with the existing auditors by resolving in the Board that the company can go ahead with the single auditors.

kindly suggest.