i am a artice in a ca firm. we recieved a new audit of a pvt.ltd. co during the f/y2007-08.
i did the audit.
i found that in f/y 2006-07, the co. made a advance payament of rs 500000/- for a machinery and debited under the machine a/c.
in the current f/y they realise that mistake they rectified their mistake by crediting the machine a/c by rs 500000.but before that they have claimed the dep. on that amount. and their income tax return has been submited in income tax. now what should i do?

Ca Institute material (syllabus of auditing) for pcc, do not contain auditing and assurance standards. can u Provide the applicability of AAS to pcc students?

Hello,

1)I want to know the laws applicable to the above.

2) when the Superannuation Fund (SF) is transferred from a company located outside india to a company located in india how is the treatement given for gain on foreign currency

Is there any particular section under companies Act which deals with Special Economic Zone companies.

Or Is there any separate Act as such ?

How does the Audit will be conducted for such units ?

i mean is it possible for a chaitable society to get its last ten years books of accounts audited with the auditor signing in todays date?
(the society has not claimed exemption under section 11 & 12)

pl tell me if washing allowance is included while computing wages for ESI(employees' st insurance). For Eg: basic 6000/-, washing allowance Rs.200/-. employee's contribution will be 1.75% of what amount?

what will be wages for the purpose of PF? is it basic salary or basic + allowances?

Checklist for the Audit of Life Insurance Companies

If a charitable society is not registered u/s 12A of the income tax act, is it necessary to get its accounts audited?
Also, the society changed its name four years ago

WHEN THERE IS UNAUDITED INTEREIM FINACIAL STATMETNS, IS THERE ANY REQUIREMENT FOR ENTERPRISE OTHER THAN COMPANY TO FOLLOW AS-25, AND OTHER THING WHEN IT IS COMPANY AND UNAUDITED FINANCIAL STATMENTS ARE THERE AND AS-25 IS NOT FOLLOWED THEN IS THERE ANY RESPONSIBILITY OR OBLIGATION TO REPORT TO IN STATUTORY AUDIT REPORT OF STATUTORY AUDITOR.
PLEASE REPLY.

In one of my interview i was asked to sort out seven diffrences between Statutory Audit And Internal Audit?

But , i was able to give only two diffrences.

Can any one give me more diffrences on
Statutory Audit And Internal Audit?

regards

Premal Gor