Under CARO- internal auditor
This query is : Resolved
sanjeev sharma
(Querist)
12 December 2008
HI,
I am Sanjeev. my query is that there is requirement of inernal audit under CARO if unlisted co. has paid up capital and reserves more than 50Lakh. my question is that whether share application money pending for allotment will be included in this condition or not.
I am Sanjeev. my query is that there is requirement of inernal audit under CARO if unlisted co. has paid up capital and reserves more than 50Lakh. my question is that whether share application money pending for allotment will be included in this condition or not.
12 December 2008
Share application money pending allotment need not be considered for evaluating the ceiling of Rs.50 lakhs. Pl refer page 6,para 1, of Icai publication(2004 edition)viz.,Statement on the CARO,2003.
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