A Private limited company is having huge cash balance at the year end, how to report that cash in balance in our stat audit report?
Menu
Audit comment
Replies (1)
Hi Naresh,
IN MY OPINION - In case of Company, having a huge cash balance is not a query in itself. If you (as a stat auditor) has identified any risk of material misstatement in it, then you have to report your query in regular manner. Regular manner means your observation / qualification should form part of your report and not the part of any notes to accounts etc.
If you wanna qualify your report, then you can refer either Clause 8 of Part I of Second Schedule to CA Act
OR Gudelines issued by ICAI in this regard which Auditor shall refer while qualifying his report.
Recent Threads
- Turnover limit for goods & service
- Conversion of old B2Cs invoices to B2B
- Tax implications on brokerage
- Showing f&O loss and intraday profit in ITR
- REBATE RECEIVED FROM FOREIGN PARTY AFTER MAKING PA
- How to fill in csv file for Schedule 112A
- Gst 2a and Gst 3b difference
- What happens if a taxpayer forgets to file ITR but
- ITR 2 / Schedule FA / Income tax
- Best CA Office Management Software Tools for 2025
Related Threads
CAclubindia
