Role of auditors 2 wards black money

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PRADEEP REDDY (Querist)
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17 December 2011 hi sir.......
1. In recent 2g case it was found that most of certificates given by CA s regarding paid up and authorised share capital are wrong

2.In india all most all companies make apolitical contribution with out showing it accounts As political contribution they just simply include them in various other expenses and auditors are also simply certifying them as correct.

ARE WE CAs NOT REPONSIBLE FOR BLACK MONEY ?
IS IT CORRECT WAY OF DOING AUDIT?
PLEASE CLARIFY MY DOUBT SIR.............

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Guest (Expert)

19 December 2011 1. Authorized and Paid Up Share Capital is mentioned in the Memorandum & Articles of Association of the Company which is filed with the Registrar of Companies and is duly verified by the Auditor of the Company. The Auditor will be liable if he has not disclosed any discrepancy in the Audit Report.

2. Please do not generalize your query without quoting an actual example. This also holds true for my reply to point (1) above.

PRADEEP REDDY

PRADEEP REDDY (Querist)
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21 December 2011 thanks alot sir for your reply

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