Liaison Office Report

Others 5065 views 2 replies

Manoj Shah

CA Practice

13 Points Posted on 10 May 2007

Dear Friends

I have been searching for a format of Audit report for Liason Office Audit. As u all know , Liaison office cannot carry on any commercial activity as per RBI approval norms & has to prepare & fIle a Receipts & Payments account & Statement of Assets & liabilities at Year end , which are audited & certified by CA.There are no precribed formats available as per my findings.

kindly help.

Best Regards

Replies (2)

puran

Finance Officer

48 Points Posted on 24 October 2008

Dear Manoj

You are right as there is no such prescribed format as can be said standard.

However it is always user friendly to make different accounts and annexures in excel.

like receipt and payments/income & Expenditures,balance sheet,fixed assests as on date, Any recharges-expenses made by / on behalf of Head office.

Regards

Puran Dangwal-09899810696

BHAVIK DOSHI

DIRECTOR

31 Points Posted on 16 June 2010

Hi Manoj and Puran,

The nearest format that can be used for preparation of Financials of a Liaison Office are

1. Section 211 of the Companies Act, 1956 - As nearly as possible to Sch VI with notes, etc (Receipts and Payments Account and Statement of Assets and Liabilities)

2. Section 227 of the Companies Act, 1956 - Audit Report (Modified)

And along with the above documents, the Liaison Office also needs to submit

3. RBI Approval Letter

4. Auditors certificate stating that the Liaison Office has not carried out any Trading, Commercial or Manufacturing Activities.

Regards

Bhavik

+91.9840.58.2353