Notes to Accounts

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Sushant Panigrahi (Querist)
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05 November 2008 1) Is it mandatary to Give notes to accounts seply,
2) if one does not provide notes to accounts seply and the same is reflected in the directors report is it ok

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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05 November 2008 It is mandatory to give as part of accounts as it is necessary that auditors certify it as part and parcel of accounts. It is not sufficient if they are reflected in directors report, as if it is done so the same would not have been certified by auditors.

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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05 November 2008 Notes are always a part and parcel of the accounts. The accounts without these are not complete and the auditors may qualify their Audit Report accordingly.

Sushant Panigrahi

Sushant Panigrahi (Querist)
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06 November 2008 Is there any law or rules which make it mandatary, as in above case my client argue that notes to account provided in the director report will be sufficent.

Pooja Chopda

Pooja Chopda (Expert)
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15 November 2008 Hi Sushant,

The diretors reports is signed by the directors only & not the auditor. The Balance sheet & profit & loss including the notes to account need to be signed by the auditor. That is why giving notes to account in directors deport is not sufficient. This is as per company law.

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