As am appearing for pce. I want to know that I have to memorise revised SAs along with previous SA or only revised SAs for exams for example SA-580- Management Representation & SA-580 (Revised)-Written Representation (WFF 1st April-2009).

Regards
Abhinav

Hi there,

These are my findings below :

where an auditor appointed at an annual general meeting (U/S224(1)refuses to accept the appointment., the appointment can not be regarded as complete and effective, because it can be so regarded only when the appointment is accepted by the auditor.

Should the Pvt ltd co hold an EGM

Or

Do they follow the below Procedure:
In this situation also, it may be regarded that no auditor had been appointed by the company at its annual general meeting and thereupon the Central Government would be
eligible to appoint the auditor to fill the vacancy. For this purpose, an application has to be made by the company to the Regional Director (to whom the powers have been delegated under sub-sections (3), (4) and (8)(a) of sections 224), within 7 days of the conclusion of the meeting, for appointment of an auditor and fixing his remuneration.

There is no prescribed form of application but the application must disclose with sufficient details, the circumstances attending the failure of the company in the annual general meeting to appoint auditors

The company shall, within seven days of the failure to appoint auditors, give
notice of that fact to the Government under section 224(3)
Board of Directors cannot be authorized by the shareholders to appoint new auditors, in case the auditors appointed in the annual general meeting refuse to accept the
appointment.

Dear Experts

As per ICAI Notification, No.1.CA(37)/70:
A chartered accountant shall be deemed to be guilty of professional misconduct if he accepts appointment as Cost Auditor of a Company u/s 233B of the Companies Act, 1956, while he:
• is an auditor of the company appointed u/s 224 of the Companies Act; or
• is an officer or employee of the Company; or
• is a partner, or is in the employment of an officer or employee of the company; or
• is a partner or is in employment of the company’s auditor appointed u/s 224 of the Companies Act, 1956; or
• is indebted to the company fro an amount exceeding Rs. 1,000, or has given any guarantee or provided any security in connection with the indebtedness of any third person to the company for an amount exceeding Rs. 1,000.

My Query is when CA can act as Cost Auditor

in recent budget there was proposed amaendement in Income tax act in respect of section 40 A for disallownce of expenses , the expenses will be allowed as a expense if Tds on such expenses decucted and deposited before the filling of return from then financial year whether it is applicable from 2009-10 or 2010-11

Dear Experts,
please tell me the MEANING & DIFFERENCE between cut off procedures and cut off arrangements. please give examples also for both.
thanks

main points to check in fixed assets register when fixed assets valuation is to be carried out.

The debenture shall carry and entitled to a coupen rate of 4% p.a. compounded on due dates and the Company shall pay to the investors such interests on the outstanding debentures from the time to time in arrears, on March 15 and September 15 each year.


What does this mean?

We should accrue interest only on the respective due date?

or

We can accrue interest on an intervening period, if we have to prepare financials at intervening period?

I would like to have a detailed idea of the procedures that I need to conduct during conducting an audit of a branch of SBI. I don't have any idea of bank audit. Pls. also give a link of latest LFAR format, and any ither forms required. Or pls. mail the file to me...

@

anoopkhandelwal30@gmail.com

I would be very thankful to you. Pls. Pls. Pls. give me whatever guidance possible about bank audit in this thread.

whatis service branch and what transactions a statutory auditor should verify certify ? please clrify me.we have one srevice branch audit of UBI........please

i want to know that if turnover is Nil but we have sundry creditors written back as other income more than 40 Lacs, tax audit is compulsory ?
thanks in advance....