MOST URGENT QUERY - ANSWERS PLEASE

Final 735 views 4 replies

K N V S SIVAKUMAR

QUALITY LEAD AT CHEGG INDIA PVT LTD

964 Points Joined January 2009

M/s ABC & Co, Chartered Accountants, New - Delhi is a vast expertise audit firm in Delhi. The staff of ABC & Co after completion of the Tax Audit Season ending 15.10.2010 found that their principle have done 46 Tax Audits for the financial year 2009 -10. The auditor signed the reports keeping reliance on their staff.

Does the auditor have to face any penal or legal consequences? If yes State them

Its happened case...... Experts - Please reply urgent !

Replies (4)

Abhay Gujarathi

C.A.

200 Points Joined August 2008

Hope this time u r serious..

Yes memeber are guilty under professional Miscounduct... Now ICAI also ask from CBDT the details of CAs who had Crossed their limit... According to my personal View, No Remdy Possibel Exept you have to revised the retun of that excess Client and mentation the name of Other auditor and get the audit report from that other auditor....

Ajay Garg

CA FINAL

101 Points Joined April 2009

I THINK MR. ABHAY JI IS RIGHT

inder gupta

accountant

41 Points Joined June 2010

if anybody have a formate of Profit & loss account & balance sheet with schedule. please provide me urgency. i will be very thankful that who provide me this formate

inder gupta

accountant

41 Points Joined June 2010

Originally posted by : inder gupta
	if anybody have a formate of Profit & loss account & balance sheet with schedule. please provide me urgency. i will be very thankful that who provide me this formate