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Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2010 i have a client who is accountant. he produce before me a trial balance certified by the proprietor. then he ask me to certify profit and loss account and balance sheet. then i match the data of trial balance with financial statements. and write a comment "i have just compere trail balance data with financial statements only, so all the responsibility of trial balance data is of proprietor only." and certify the financial statements so how much responsibility of mine as per my comment, as i have just compare the data and written in the comment accordingly?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2010 Give a compilation report. See appendix-II for the format of the report in https://www.caalley.com/aas/aas31.html
If the turn over exceeds Rs. 40 lakhs per annum compilation report should not be given since audit is mandatory under section 44AB of The Income tax Act,1961.

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