Example: A member has 20 public companies and 10 Private companies which is subsidiary of public company but functioning with constitution as private company. Can he beconme statutory auditor of 30 above companies?

my question is that whether private which is a subsidiary of public should be considered as public or private for calculating limit

Private company subsidiary of public company satisfying conditions stated in Section 3(1) of companies Act and has not converted itself into a public company.

Pls suggest whether a private company which is subsidiary of public company should be considered for calculation of ceiling limit under section 224(1B).

If no why ?

and if yes why ?

Recently, I have attended one interview in a Leading Software Company. A qualified (CA) finance controller interviewed me. He asked the following question:

"We are a software company bought one computer server for forthcoming new project and bought special costly software for the same. Till the end of accounting year the project is not yet started and both the server and software are keeping idle. During the year end is it applicable for Depreciation?".

I replied that the asset has been purchased with the intention that expected to be used for the purpose of business hence liable to depreciation either used or not in the business.

He has taken Accounting Standard -6 "Depreciation" definition and it shows:
"Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset ARISING FROM USE, effluxion of time or obsolescence through technology and market changes."

plz note that it shows "arising from use", hence we had argument in this topic and I’m waiting for interview result.

Experts’ help required.
(plz mention the website where you have observed the point)

Dear Sir/Madam,
First of all "Happy New Year" to all.
I have required Audit Programme for Statutoy Audit if somebody have please mail to me at sachingarg82@gmail.com.

Please reply soon.
Thank You.

sachin Garg

Can Accounting Standard 21 is applicable to Private Ltd Co

Can Accounting Standard 21 is applicable to Private Ltd Co

plz explain me & how to verify/vouch the following terms during audit regarding date of purchase/date of payment to parties and effect on exchange fluctuation;
1.high seas sales
2.high seas purchases.
3.import purchases
4.import sales.

Sir
My question is, whether limit of 45 tax audit includes statutory audit of Companies or this limit is only for audit u/s44AB of I T act
Please specify me about the ceiling limit for tax audit & also about statutory audit

Respected Sir,
during the audit I observed that company written off excess balances recived from customer.as an auditor should I ask for some approval from management?

thanx regards

Ghanshyam

Where I will get a comprehensive & exhaustive checklist for Internal audit of Car Hiring & Ticketing company. The company main business is to provide car on hire for hotels & their guests.It also handles tourist activities & acts as tourist agents & contractors to facilitate travelling