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Pre and post incorporation

IPCC 1468 views 8 replies
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21 Points Posted on 28 February 2019
Allocation of Audit fees
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On 28 February 2019 at 11:50 Report
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CA Finalist
2595 Points Posted on 28 February 2019

Hi Srivardhini

Audit fees should be allocated on time basis in the pre and post incorporation period. It is of a fixed nature.

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On 28 February 2019 at 11:55
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21 Points Posted on 28 February 2019
There is some confusion between company audit and tax audit- either allocate to post incorporation or on sales basis
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On 28 February 2019 at 12:00
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CA Finalist
2595 Points Posted on 28 February 2019

Company audit - time basis

Tax audit- Take basis as sales

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On 28 February 2019 at 12:03
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21 Points Posted on 28 February 2019
As of my knowledge company audit in the sense allocation done wholly to post incorporation
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On 28 February 2019 at 12:05
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CA Finalist
2595 Points Posted on 28 February 2019

Yes exactly company audit will go to post allocation period.

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On 28 February 2019 at 17:37
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12 Points Posted on 28 February 2019
For Company's audit charge to post incorporation period and for Tax Audit apportion on the basis of turnover in the respective period.
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On 28 February 2019 at 20:06
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21 Points Posted on 28 February 2019
How to classify company or tax audit
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On 28 February 2019 at 20:47
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12 Points Posted on 28 February 2019
It will be mentioned in the question
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On 28 February 2019 at 21:05


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