how do i read SA's in study material ? is it sufficient to study practice manual and compilation qtns for SA ? is repeated qstns are always asked in Auditing and assurance paper ipcc ?

A Contract clause says 100% cost incurred plus 10% service charges reimbursible.
How much reimbursment one should get in below case.

Five employee salary is USD 50000 per month
Social Security deducted 5000 per month
Net salary paid 45000 per month

Social Security deposited USd 5000 (employee contribution )
In Addtion to USD 6000 (Employeer / Company Contribution )

Now, Invoice raised to main contractor for reimbursment

Net Salary USD 45000
Social Security (employee) USD 5000
Scoial Security (Employer) USD 6000

Total USd 56000 plus 10% service charges.

Main contractor rejects the claim and says it suppose to be

Net Salary USd 45000
and Social security (Compnay Contribution) 6000
Total USD 51000 plus 10% service cahrges only re-imbursible.

Reason given employee contribution is already recovered from employee.

In this case whether 100% cost incurred by contractor re-imbursed by main contract or not?
Or what is the actual claim suppose to be?

Dear Auditors

Please solve my blow problem

May we show gold as fixed asset? If it is fixed asset there is no depreciation. In our book have some other fixed asset, I have to maintain fixed asset table, in case there is no depreciation on gold I think it is not necessary to show this in fixed asset table

Can first auditor be appointed as subsequent auditor?!
If yes, what are the rotation compliance to be followed?
whether 1+4 years which in total 5 years or 1+5??

As the wealth tax is not existing now, the today's announcement of Finance Ministry that "tax payers having excess gold than stipulated must have maintained Wealth Tax else, it would be taxable at 82.5% plus penalty" should be understood in waht sense,

in short,

"what is the tax liability of an individual as of today, if in possession of excess of limit of Gold as ornaments, including that purchased in recent past."
Thank you.

sir I need to know how revenue and consumption from hotel is audit give me details which are evidence to check for revenue and consumption

What do we mean by Muster Roll in a company?

Hi Good Morning

I want start a new Tours and Travels business my turnover will cross more than Rs 900000 . i want register service tax. i don't know how to register and where i have to register and another question is its proprietorship may i apply another PAN and my pan is applicable ?

Sir, I am working as an articled assistant. I am doing concurrent audit in RBI. RBI is purchasing newspapers and magazines from a particular vendor but they didn't make any contract. They are paying beyond Rs30000 every month to that particular vendor. So my question is shall TDS applicable for that amount?

The Company’s management is responsible for establishing and maintaining internal financial controls based on _____ [for example, “the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India”.]

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2016, based on ______ [for example, “the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India”].


I want to know based on what we can complete the above comment.