Fees to statutory auditor

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Marimuthu (Querist)
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25 November 2023 Dear Experts,
1 A company is paying the fees to the Statutory auditor for issuing the certificate towards related party transactions entered by the company.
2 Since this transaction is not related to the statutory audit, can the company account this transaction under professional fees? Or it has to be accounted with Audit fees
3 Pls confirm

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 November 2023 It should be disclosed like this.
Payment to statutory auditor.
Audit fees.
Fees for other certification.

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RAJA P M

RAJA P M (Expert)
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25 November 2023 Account the fee as LEGAL AND PROFESSIONAL CHARGES...

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Marimuthu

Marimuthu (Querist)
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25 November 2023 Dear Sirs,

That is the statutory audit fees only be accounted under Audit fees.
Other fees are accounted under professional charges?

RAJA P M

RAJA P M (Expert)
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25 November 2023 As per Your query the fees paid for certification charges. It's not a statutory audit. So, it will be accountable as LEGAL AND PROFESSIONAL CHARGES...

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CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)
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06 December 2023 You can Treat under Professional Fees Ledger

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