Audit-Disclosure of Investments

Stat Audit 1086 views 2 replies

What is the appropriate disclosure of Investments in Mutual Funds?

Question is regarding names of various schemes in which the company have investments.

1. Is it necessary to disclose the name of the scheme in which the company have investments?

2. Sch VI mentions only disclosure of names of body corporates.

3. Mutual fund scheme as such is not a body corporate?

3. AS 13 does not specify the disclosure of names of investments.

So is it necessary to disclose the name of mutual fund scheme or simply the fund house. Can I club all investments under a fund house?

Replies (2)

Yes Depending The Number On Schemes U Can Appropiately Present It

Yes, if the number of schemes are not so many as found in small companies and can be shown properly, then the name of the schemes can be disclosed. Otherwise just prepare a detail sheet for such investment in mutual fund.


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