Hello Everyone,

Can anybody tell me who can conduct an internal Audit?

And for application of Internal Audit, any one condition should be satisfied or both as per caro 2003.

Thanxs in Advance.

Dear Friend

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1. Surbhi Bansal
2. Paduka
3. Vinod Aggarwal

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During finalisation of Accounts and Audit, the Auditor finds that the term loan interest of last six months not paid during the previous year, but management assures that the company will paid the entire interest within the due date u/s 139(1) and not to consider the deffered tax arising to that. Auditor depends on management representation, and complete the Audit and sign the report on 30th june with out creating deferred tax, since because of assurance given by the management. The accounts were adopted in AGM on 30th august. However, because of uncertainties the company not able to pay the interest on due date u/s 139(1). Consequently, some of the share holders question of creating deferred tax relating to the previous adopted Accounts.
Query:
1. Whether the accounts can be revised for the purpose of creating deferred tax which is material to the Financial statement?
2. Whether this constitute subsequent events relating to As-4?
3. Whether the Auditor is liable to revise the Audit report?
4. Whether the Auditor is liable for negligence of mere acceptance of management representation?
5. In case the Accounts were not adopted in AGM, what is the procedure in this regard?

whether there is any limit on tax audit for c.a.,if yes,plz tell the punishment or charges there on???

What is EDP Audit? What's its full form?

Hi

Can a statutory auditor of holding company be internal auditor of its subsidiary company?

X is statutory auditor of ABC. ABC has a subsidiary company DEF. ABC shareholders requested X to be internal auditor of DEF. Can he accept this offer? Does he has any restriction to accept this offer.

Please respond at the earliest.

Regards,
CA. Sunil Saini

If the turnover of an assessee from business, which he has begun with in the current year, is36,00,000 and from profession, that in which he deals since last two years is5,00,000, will there be any liability of tax audit to be carried out?

Please reply as soon as possible.

My brother is working in a private IT firm.
His trading volume has crossed 60 lakh last year.

All trades are delivery based .

Q: is it necessary for him to go for tax audit? or tax audit is mandatory only for intraday trades?

regards

DEAR SIR,
I WANT TO KNOW WHO ARE BEING CALLED AS PROFESSION FOR TAX AUDIT PURPOSE AND UNDER WHAT SECTION

THANKS IN ADVANCE
REGARDS
SANTOSH GUPTA

Dear all,

i have some doubt about can i issue ch behalf of proprietor name. one of the contractor done work his foirm name XXX but he asking cheque his name YYY, is it eligible for audit

thanks & regards