Stock audit
This query is : Resolved
Alok mukherjee
(Querist)
17 February 2012
In a stock audit:
1. Who asks the CA to perform stock audit? Is it the bank(providing the loan) or the client(borrower)?
2. CA submits his report to the bank or to his client-the borrower?
3. CA with his staff goes alone for stock audit or an employee from the bank(providing the loan) accompanies CA for the audit?
thanks
1. Who asks the CA to perform stock audit? Is it the bank(providing the loan) or the client(borrower)?
2. CA submits his report to the bank or to his client-the borrower?
3. CA with his staff goes alone for stock audit or an employee from the bank(providing the loan) accompanies CA for the audit?
thanks
CA Prashant Gupta
(Expert)
17 February 2012
1. Bank allots the stock audit.
2. CA submit the report in prescribed format to the bank.
3. No bank officers or employee will go with the CA.
2. CA submit the report in prescribed format to the bank.
3. No bank officers or employee will go with the CA.
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Alok mukherjee
(Querist)
17 February 2012
Prashant ji,
are you sure on these answers? Asking as my seniors gave some other answers. Pls reply.
are you sure on these answers? Asking as my seniors gave some other answers. Pls reply.
Maninder Jain
(Expert)
18 February 2012
I also agree with Prashant. Even I have done stock audit for some banks in same manner.
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Alok mukherjee
(Querist)
18 February 2012
Thanks Prashant & Maninder.
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