CLARIFICATION OF DIRECTORS

This query is : Resolved

Radhika (Querist)
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20 August 2008 MY COMPANY IS COMPANY IS NOT FOLLOWING AS-15. OUR AUDITOR QUALIFED REPORT ON AS 15.

NOW OUR COMPANY IS GOING WITH ANY INSURANCE COMAPNY. THIS IS UNDER PROCESS. I WANT A GOOD WRITTEN PARAGRAPH AS CLARIFICATION OF DIRECTOR. SPECIALLY ON GRATUITY AND LEAVE ENCASHMENT.

PLEASE HELP ME OUT.

MY EMAIL ID : rakes2004@gmail.com

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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20 August 2008 Without knowing what are the wordings of the qualification how is it possible to write a reply?

Radhika

Radhika (Querist)
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20 August 2008 Wording of Auditors :-

In our opinion, the Balance Sheet and Profit and Loss Account and the Cash flow dealt with by this report comply with the accounting standards referred to in Sub-Section (3C) of Section 211 of the Companies Act 1956 subject to non provision for Gratuity as per Note No. 13 in Schedule “S” which is not in accordance with the Accounting Standard – 15 on ‘Retirement benefits’.

Radhika

Radhika (Querist)
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20 August 2008 In our opinion, the Balance Sheet and Profit and Loss Account and the Cash flow dealt with by this report comply with the accounting standards referred to in Sub-Section (3C) of Section 211 of the Companies Act 1956 subject to non provision for Gratuity as per Note No. 13 in Schedule “S” which is not in accordance with the Accounting Standard – 15 on ‘Retirement benefits’.

Radhika

Radhika (Querist)
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CHEZHIYAN

CHEZHIYAN (Expert)
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20 August 2008 Directors on their report has to reply to the qualification of the auditor's

he can mention the reason for non following the specified provisions and justify his cause

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