08 September 2011
hi, There is a client having debtor by name (say Raju) since more than 3 years and during audit,the auditor has sent a letter to the said debtor and the same is confirmed by him. a) In the given case can auditor still show the amount as debtors in the B/S irrespective of the fact that the balance is confirmed by the debtor?(because the amount is due for > 3years and governed by limitation Act)
CAclubindia
