May i know which one is the best material to
study for Audit in PCC May 2010
attempt??


Please tell me as soon as possible.
Hoping for a better than the best reply
from all the Experts!

Do we need sign of chartered accountant on form no.2 for applying mebership no.
2.If i didnt get attested on PE-II certificate is it ok.

Thanks in advance.

Can you please refer me the book for Company Audit (Statutory and Internal audit)

Respected Sirs,
I have a query regarding Tax audit:

"A client whose total turnover is Rs.89 lacs in PY and get his account audited with a Chartered Account, but he not file the return/report till now. Is he liable to paid penalty u/s 271B?"

Please suggest.

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