i want to know about internal auditor function or importance in corporate governance.

Sir/Madam
Please tell me.
What is procedure of LEDGER SCRUTINY in statutory Audit.

Factory worked in a year for 290 days. In which they have worked for 270 days on double shift basis and for 240 days on triple shift basis. Query: Whether depreciation can be charged on plant and machinery at the rate prescribed in Schedule XIV on Triple shift basis or we have to do pro-rata for working for double and triple shift. If to do pro-rata, pl. give a simple equation.

Atul

CASE:

SALES WITHOUT INCLUDING VAT = 59,00,000
VAT (GROUPED IN CURRENT LAIBILITY) ON SALES = 3,00,000

IS HE LIABLE FOR AUDIT


(FOR LIMIT OF 60 LACS SALES SHOULD BE INCLUSIVE OF VAT OR EXCLUSIVE)?

Dear Experts,

I am conducting the Internal Audit of Partnership firms & Ltd. company.
I want to know that:
1. What is the specific diff. between Internal & Statutory Audit?
2. What is the right way to conduct Internal Audit & what areas are to be audited?
3. What is our responsibility towards the clients i.e whether we have to comment on the B/S, P& L A/c etc, due dates of Statutory payments etc.?

Despite our regular efforts, the clients does not seem to be satisfied at the end by the work.How to conduct an efficient & result oriented Internal Audit?

Please reply early as its very urgent.
Thanks in Advance.

hello sir

my client has turnover of Rs. 5915000/- (excluding VAT) & having vat of Rs.203844/-.

Is it liable for audit ?


thank you

DEAR SIR,

MY CLIENT TURN OVER ANNAUAL 40 TO 50 LACS HIS PROFIT RATION WITH 3% WITH TRADING
NOTE MORE THAN 3% BUT LESS IF CUSTOMER PAYMENT GIVEN BEFORE DUE DATE WE DEDUCT 1% OR 2% AVARGE OUR PROFIT RATION IS 1.5% SO OVER LIABILLTY FOR AUDIT UNDER SEC.44AD


THANKS`S & OBLIGE

Sir, is assurance services provided by ca firms are meant to be audit by firms? What kind of services a firm can provide in this regard?

If Sales of Rs. 100 is not considered while doing tax audit of F.Y.2009-10. But later at the time of vat audit,there was a vat liablity of Rs. 12.5 on the above sales of Rs. 100.This liability was paid in F.Y.2010-11. No provision of such vat was done in F.Y.2009-10. So in F.Y.2010-11 whether such expenses is an allowable expenses. If no then what is the effect of such payment.

Who should maintain accounts U/s.44AA