May I get your help concerning the aftermath of receiving qualified auditor opinions for Indian listed companies?
In another word, what would be the negative outcomes of receiving qualified opinions for these listed companies?

Or what would be the penalties for these listed banks that received qualified opinions, for example, would they be suspended of being listed for a given period of time? Or these companies might be charged a specific of money by the authorities?

Or there are no specifically regulatory penalties, but these listed companies would suffer a lot from the stock market as the public confidence upon their financial condition is weakened greatly along with the issuance of qualified opinion?

I appreciate so cordially for your talent and help.

Respected, sir/madam
while doing documentation of loan sanctioned by bank to any person other than company, it becomes difficult to identify the other loans taken by that person fro different banks.
how to identify the same?
My method is to go through the financial statement submitted by the borrower or to identify it by viewing account operation,
Banks usually take the disclosure of assets & liabilities from the borrower, but what if the borrower does not disclose the same?
Is there any report like R.O.C details in case of company to view the charge over its assets.

In case importer clears goods through middleman instead of c & f agent. c & f agent raises bill on middleman and middleman raises bill on importer. on what amount tds to be deducted by importer - on agency commission of middleman or on entire invoice raised by middleman (i.e. amount of reimbursement exps )

As per AS2, while considering NRV, cost necessary to make the sale have to considred. Please give some examples in this regard.?

A foreign company registered in Germany has got liaison office in india.
It is involved only in marketing strategy, Sales strategy etc.

It doesnt make any sale. In short only expenditure is made out of remittances received from the head office(Germany)to attain the above objectives.

Whether CORO will be applicable to the said liaison office situated in India.Legal Substantiation will be highly appreciated.

what is the inr vs usd rate as on 31.3.2010

If an individual has both business & profesional income. His total turnover in business exceeds 40 lakhs but reciepts are less than 10 lakhs.Is he liable to get his accounts audited for both business & profession or only business

I'm working as credit analyst in SBI.
During analyzing audit report of various companies i found contingent liabilities in notes to accounts. Their contingent liabilities includes guarantee given by bank against the company to third party.
E.G
There is a XYZ company. SBI has given guarantee to ABC ltd for non payment by XYZ for the raw material supplied by ABC.
Now according to me guarantee is contingent liability for SBI and not for XYZ.
But audit report of XYZ shows it as contingent liability of XYZ.
So advice me. Whether i'm correct or audit report is correct?

CMA.Ramesh Krishnan has given answer to me, but i'm not getting any clarity. Mr.Ramesh is saying that it is real contingent liability but according to me it is a confirm liability which is already booked in accounts. So there is no need for contingent liability disclosure.

So when Company has already booked liability, there is no need of contingent liability. So my conclusion is like this
1) For company it is confirmed liability(which will be already booked in accounts and hence not required to be disclosed as contingent liability)
2) It is contingent liability for bank

Pls correct me where i'm wrong

Comany has given an advertisement inviting tender for the financial year 2010-11 in the month of march 2010.
Will it be the Pre-paid expenses .
or it will be the current year expenses.

EXCEPTIONALLY EQUITY SHAREHOLDERS DONT HV VOTING RIGHTS SO IF A CA WITH COP HOLDS A EQUITY SHARE OF A COMPANY HVING NO VOTING RIGHTS CAN BE THE AUDITOR OF THAT COMPANY? REASON?