Dear Professional Colleagues kindly throw some light on following practical case:

There is company "x ltd" which has its 100% holding Company in " y ltd " in switzerland.
X ltd has a unsecured loan from y ltd as on 31.3.2009. Subsequent to 31.3.2009 x ltd has written back the loan of y ltd with y ltd's prior approval and booked its income.

What are audit requirements under FEMA & RBI ? Moreover if the company has claimed for expenses incurred out of that amount as tax deductible will this liability written back income also get taxed now?

Dear all,
i ve a querry regarding appointment of Statutory auditor.
Q-1: A firm of Chartered Accountant is fuctioning as internal auditors of a Company for a six months. now we want to appoint same CA firm as statutory auditors for smae financial year after resigning as internal auditors of a Company, is it possible?
Any rule or regulation or circular plz specify with that circular,rule or regulation.

With Regards

Amarendra
Company Secretary

Dear Friends,

i have recently enrolled myself for Ca final course, and i got study mat. in which the auditing slanderers are given as AAS not SA.

I want to know that, should i follow the AAS given in study Mat. or SA.

pls response as soon as possible

Respected sir/madam

A Person who provides me(Partnership firm) a labour for welding of ETP plant(repair of Plant & Mechinery)and recevies every month Rs. 8000 full year.Is it contract Or professinal $ technical service?

What is that?
A contract Or Professinal Servie ?

Dear expert,
Our Auditing Standards has been modified to SA.my qery is that whether we have to quote SA instead of AAS in our Audit reports

A Company that has just come out of BIFR negotiates with its creditors and bankers at a term that is more favourable than BIFR terms, then has it to obtain BIFR approval for the same? What would be the scenario if the Company is a PSU?

I was treasure of rwa society registereed 1860 in meerut,for financial year 2007-08. Auditor was appointed by registratar of society in 2008-09 but audit was completed in march 2010. MY question is
a. can legally I sign as treasurer of scoeity in 2010.
b. Auditor has written a letter present body that president, gen. secy., and treasurer of 2007-08 will sigh the balance sheet. My view is that it will be sign by present body not old body

WHETHER CO-OPERATIVE SOCIETY IS SUBJECT TO COMPULSORY AUDIT?
WHAT ARE THE CRIETERIA FOR AUDIT OF CO-OPERATIVE SOCIETY?

Whether listing agreement between a Company and a stock exchange in India requires the Company to prepare interim financial report in the same line of Annual Report.

For how a long a company that has just come out of BIFR continue to show Capital Redemption Reserve? The same was, however, created a long ago.