hi friends ,
my query is that why sec.44AB not applicable on income of individual exceeds 60,00,000 under the head salary ,H&p or capital gain &other source ......

Hi,
I would like to know when can a auditor ask for a management representation.

Should we transfer personal expense of director to capital account or debit it to companies expenses

or should we first debit to companies exp and transf to their individual account routing through jv

please help me out

Ashish Limaye

I am preparing an internal audit report where there is a point noted company billed twice in many cases. so i want to frame a point on this saying it will spoil our relationship with client due to lack of internal control. So pls help me to frame a sentence in this regard. mentioning lack of internal control and relationship with client.

Respected Sir,

What is the meaning of Cash Flow

What is the meaning of Fund Flow

Please Explain in detail

Thanks & Regards

Survesh

I am doing one of internal audit where i found that cash advance is reversed for the purpose of settlement and new entry passed for the expenses entry. so advance and reverse get cancelled and new entry came in place.

if this is ok please answer the following

1 is it needed to make receipt entry of cash while reversing ?
because the entry is cash -----dr
to advance
2.i have doubt that he practically not receiving the amount of 20000 but passing entry as cash ------dr
to advance
3 what is the effect of this. which is not
practically correct.

is the accounting is wrong or not
what is the correct entry to be made for settlement as universally accepted.

just help me on this line.

please tell me when internal and statutory audit is required to be conducted? tell me their criterias.

pls tell me about extent of auditors independence

will publishing info. about audit firm on a website which brings potential customers audit need and audit firm giving such service amount to professional misconduct on part of the audit firm or is this prohibited under the act ?

eg: xyz needs concurrent auditor, p is a firm providing the service.

a website lists the audit firm name from where xyz can choose a concurrent auditor. Will this amount to prof. misconduct for P or prohibited for the website developer

sir my company a partnership firm has not been audited by the authorities for the yera 2005-06 ,is there atime bar for such audits