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files or statement preparation

Others 104 views 4 replies

Maya

Student

663 Points Joined July 2017

Dear experts,
1) what are the files or statements should be prepared by an auditor while IT return, to give it to a client (Ltd company)?

2). who should prepare Annual reports?

3) what are the files or statements should be prepared by a C.S while preparing ROC returns?

Thanks/ Maya

Replies (4)

sawan

56 Points Joined September 2012

in limited company, the preparation and presentation of Financial statement are on Management.
auditor will prepare Audit Report and IT return.

CA PRADEEP C B

Prop: Pradeep C & Company Chartered Acc

166 Points Joined April 2013

Preparation of Financial Statements and IT returns is the responsibility of management. In tax audit cases, tax auditor should VERIFY the books of accounts, financial statements , IT returns etc.... and issue tax audit reports.
1. Financial statements should include
a. Balance sheet
b. Statement of profit or loss
c. Statement of cash flows
please refer section 129 and schedule III of companies act 2013 with rules.

2. Annual returns (assume, not annual reports) prepared by management.

3. File to ROC, (refer section 137 with rules):
a. audited financial statements including notes to accounts, consolidated financial statements etc. .... Section. 129
b. Independent auditor's report
c. Board of directors report - Section 134
etc.....