Hello friends i need some clarification regarding verification of loans against fixed assets. Whether the WDV of Fixed assets should always be equal to or more than O/s amount in respect of loan. The problem is mainly posed due to charging of high depreciation as per IT rates. Or can we rely on the valuation certificates. If any other way please throw some light on this subject.

I know there are three conditions spelt out in CARO, satisfaction of which will exempt the CARO applicability to pvt.companies. But my query is that all the conditions are to be satisfied or even one or some conditions satisfied is enough for exemption?

for example if a pvt company has more than 50lakhs paid up capital and reserves, has more than 25 lakhs loans from banks but has less than 5 crores of turnover. Now for this company will CARO is applicable? From my view CARO is not applicable as turnover is less than 5 crores. But i am not sure of my answer.

Please any body clarify my query?

what is the date for export sales accounting ( date Bill of lading or Shipping bill.

Which rate of foreign Exchange has to be applied ( whether RBI, Customs as mentioned in Shipping bill)

Thanks & regards
Mahendra M

I m partner in a CA firm. We want to make consortium of firms to acquire professional work like statutory audit and other without sacrificying the component firm's own independence. Whether it is possible. Pls increase my knowledge on the issue.

what are the major issues to be considered while auditing the books of a film production company in respect of

1. statutory audit

2. internal audit

3. tax audit

hi,
can any one give me check list of stock audit of any company, if such audit is given by bank to c.a. firm.

And check list of book debt, creditors, stok for determining cash credit limit.

Please provide me details regarding accounts and audit of liaison office in india.

Thank You....

If a auditor was appointed in an AGM and subsequently he fails to take up d appointment should d matter be referred to CG U/S 224(3) or can the company hold another meeting and appoint the auditor??

Dear Sir,
Whether two of more C.A's can form a AOP and Start a practise instead of partnership? whether it is permissible under the CA Act 1949?