one college has been audited(2012-13)in which some of the expenditure(vouchers, proofs) missed out by management
so, in audit report auditor has mentioned 250000 cash is missing in closing balance...(showed in a/cs but cash is missing)
In this criteria.. for 2013-14 audit, they approached us.. by briging the missed out (200000 rs proofs)
qn is ---- how the treatment for 200000 and 50000 rs
prepaid thanks... :)
Check AS-4, AS- 5, CARO-2003 and Standard on Auditing.
It Seems a fraud...or Auditor didnt done Audit properly.
yeah, I agree Mr. Raj considering 2 lks as prior period exp..
1) case : then what about 50,000 rs-- will it b enf if v take correspdg written approval nw...
2) case : as "unexplained amt" in expenditure side-- giving a proper disclosure
CAclubindia
