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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2010 experts,
If a company has taken CC/WC loan from bank,
1. Is any audit report is to be submitted by the co. to the bank?
2. Is any audit carried out by a CA b4 submitting the report to the bank?
3. If yes, what areas are covered in this audit?

pls reply asap.

thanks
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
20 December 2010 1. yes
2. no.if not required by bank
3. as required by bank
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2010 Usually which areas are checked by the auditor before giving his report wrt loan from bank?
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2010 Usually which areas are checked by the auditor before giving his report wrt loan from bank?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
21 December 2010 Bank may ask for stock or receivable audit on quarterly basis, else no audir is required.

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