A proprietor's auditor prepared a balance sheet but omitted schedules for debtors and creditors. The user is asking if these schedules are compulsory. The consensus is that they are not compulsory for the balance sheet, especially in the context of a tax audit.
12 February 2022
Our auditor audited our proprietorship firms accounts and prepared balance sheet but he did not gave schedules of debtors and creditors in balance sheet. Is it compulsory to give schedules of sundry debtors and creditors? Pl clarify?