Auditing Urgent *******

Statutory Audit 1288 views 5 replies

Guest

Please Provide me the link on Auditing with case studies.......which includes the cases based on Companies laws and Others as well......

its urgent............SO THAT I could be able to Answer the "LIKE" questions given below. and many more......:

How will you deal with the following as an auditor of a company :

(a) Bonus to employees which has hitherto been charged to profit and loss account on

mercantile basis is now being accounted for on cash basis.

(b) There is significant fall in the market price of some investments held for a long time by the

concern.

year.

(d) Sundry debtors include charges made for returnable packing cases.

(e) Mr. Chandran is sought to be appointed as the auditor or a public limited company. His

wife holds 10,000 equity shares in the company

Thanks........

Replies (5)

Ramya c c

Articled cleark

118 Points Posted on 18 May 2010

hi pooja. Answer for questions

a.) - sub sections of Sec 299 of companies act. and also AS 1 reg fundamental accounting assumption and if any change in that, it should be disclosed....

b.)- refer AS 13 - from the question it looks like long term investment so only if there is permanent decrease in market value it should be adjusted.

c.) Refer AS - 29 for provisions.

d.) its in repeatedly asked questions Answer is - It should be deducted from debtors and shown saperatly. If possible refer verification of assets chapter in saravana prasath PCC Auditing book.

e.) - Refer sec 226 of companies act.

Guest

Thanks Ramya.....

Do you have some more case studies on Auditing .......

Kalpesh Chauhan,

Tax Assistant (Accounting Technician CA

8311 Points Posted on 18 May 2010

I AGREE WITH RAMYA.

SEC, 226(3)AND 226(4) DESCRIBES THE DIQUALIFICATIONS OF THE AUDITORS.

I THINK RAMMYA HAS SOLVED YOUR QUERY.

Ashish M

Chartered Accountant

2731 Points Posted on 18 May 2010

Originally posted by : Pooja
	Thanks Ramya..... Do you have some more case studies on Auditing .......

I THINK U NEED MOREPRACTICLE QUESTIONS ON THIS SUBJECT. FOR THAT U CAN REFER THE PAST YR. QUESTIONS AND INSTITUTE'S MOCK AND REVISION TEST.

U CAN GET THE SAME FROM THE LINK BELOW..!!!

https://www.icai.org/post.html?post_id=5720&c_id=314

Ramya c c

Articled cleark

118 Points Posted on 20 May 2010

sorry pooja.. The answer for the first question is Sec 209 and i couldn modify the post. Please apologise for the typographycial error made. I don know any link for case studies in auditing.

regards ccr