Hitendra K. Agrawal
20 March 2008 at 15:04

Tax And other statutory Audit

Suppose firm named ABC (partnership firm)
has following palses of bussiness
1)Ahmedabad (H.O.)
2)Vadodara (Branch)
3)Bihar(Branch)
4)Jaipur(Branch)
then for the purpose of tax and other statutory audit how the audit will be conducted.i.e.Seperate audit for seperate branch and H.O. as per the criteria specified (like turnover) in the Act or we go by cosolidation of all the accounts and conduct audit only of H.O.

What would be the situation in case of company.(i.e. statutory audit under the Companies Act,1956.


Hitendra K. Agrawal
20 March 2008 at 14:40

Internal Audit

What is the main approach to the internal audit.What care must be taken in case of the internal Audit.


Hitendra K. Agrawal
20 March 2008 at 14:36

Bank Audit

In what circumtanses the bank is requiered to get it's accounts audited and under what stutute i.e. under the companies Act. or Banking Regulation Act. or R.B.I. Rule.
( Provided bank is a)Partnership firm
b)Company (Indian)
c)Company (Foreign)


Hitendra K. Agrawal
20 March 2008 at 14:29

Tax Audit U/S 44AB

1) Suppose person carried on more than one business then whether turnover from all this bussiness should be calculated seperately or otherwise.

2) Suppose Person engage himself in both i.e. a) carried on bussiness
b) Profession
then what would be for tax audit Criteria.
i.e. whether seperately or otherwise.

Please support your answer.


Hitendra K. Agrawal
20 March 2008 at 14:04

Tax- Audit u/s 44AB

What is the meaning of turnover in case of tax audit.
1) In case of person carry on bussiness if his turnover or sales or gross receipts exceeds Rs.40,00,000.

Now, my questions is,
1)What is meaning of gross receipts in this criteria ( other than in case of profession.)
2)What is meaning of turnover/sales i.e.what to include in sales amount.

Suppose, sales bill is like this
Net Amount 10,000.oo
Excise (16%) 1,600.00
Cess 48.oo
Vat(4%) 465.00
Total 12,114.00

then what amount will be included.

3)Whether sale of scrap , Fixed assets will be considered for this purpose.

Please Support your answer.


harshal
20 March 2008 at 10:39

Internal Audit & finance audit

the morden concept of internal audit envisages scope of internal audit much beyond financial audit


harshal

i am Studying in PCC and i am not grtting this answer so please help me out.
thanks.


Shyamjith

i like to know is it necessary to have cost audit every year..
is there any exemption for non conducting of cost audit.
which are the section i should refer for a detailed knowledge


HIMANSHU TIWARI
19 March 2008 at 13:01

AUDIT

DEAR CO-LEAGUE
PLEASE TELL ME WHAT IS SOX 2002 ACT . IS IT SIMILAR TO AUDIT PRACTICE IN INDIA AS PER OUR AAS.IF YES WOULD OUR GOVT PLANNING FOR SAME ACT FOR MANDATORY APPLICATION OF AUDIT TO EVERY COMPANY


Shyamjith
18 March 2008 at 16:38

compulsory cost audit criteria

what are the criteria for a steel manufacturing company to come under cost audit. what are the matters to be taken care of if a co. comes under such requirments.