ADVANCE FEE BY AUDITOR
This query is : Resolved
11 March 2010
WHETHER CA CAN TAKE ADVANCE FEE FROM SAID COMPANY IN WHICH HE IS STATUTORY AUDITOR?
HERE THE QUETION IS OF ADVANCE FEE & NOT PROGRESIVE FEE, AS THE AUDITOR HAS NOT DONE ANY KIND OF WORK?
IF NO, THAN IS IT PROPOR?
HERE THE QUETION IS OF ADVANCE FEE & NOT PROGRESIVE FEE, AS THE AUDITOR HAS NOT DONE ANY KIND OF WORK?
IF NO, THAN IS IT PROPOR?
11 March 2010
no. the auditor can not take advance from his client for the audit assignments , but for other assignments/consultancy work i think there is no such restrictions.
11 March 2010
Agreed. Auditor cannot take advance fees for the audit.
I am not 100& sure but my knowledge says that even for consultancy or any work the advance fees (exceeding Rs. 1000) cannot be taken WHILE YOU ARE AN AUDITOR of the company since as an auditor it will violate the regulations of appointment of auditor.
If NOT AN AUDITOR, then i think there is no problem for consultancy or other services.
Experts view solicited.
I am not 100& sure but my knowledge says that even for consultancy or any work the advance fees (exceeding Rs. 1000) cannot be taken WHILE YOU ARE AN AUDITOR of the company since as an auditor it will violate the regulations of appointment of auditor.
If NOT AN AUDITOR, then i think there is no problem for consultancy or other services.
Experts view solicited.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
