About me
Navodian,
-
What kinds of questions I can and can't answer?
Revised Schedule VI, Income Tax, TDS, Formation of PVT LTD.
My area of expertise
Revised Schedule VI, Income Tax, TDS
My experience in the area (years):
3.5 Years+ 1 Years
Organizations I belong to:
H H M & Co. Now @ PSU
Publications or writing which has appeared :
Submitted to Regional Council
Educational credentials:
B Com, M.com, CA
Award & Honors:
Gold Medel in Accvounts for AISSCE (CBSE) (12th Commerece) Pune region NVS.
-
CA. Rajesh P. Ahir
says
: Audit Opinion
Qualified/adverse audit Opinion does not give rise to any penalty automatically. But can lead to penalty or violation of various provision of law. The law may be have provision for penalty on the violation. As per Sec.211 3C, All companies are required to comply with notified AS's. The qualification can lead to proof of violation of 211 3C. The adverse opinion can question the RESPONSIBILITY STATEMENT given by the directors of the co. On the filling of accounts and Auditors Report to ROC, CLB can take for Investigation of Books of accounts. All the Qualification are required to be disclosed in the Prospectus in case of IPO. U/s 142 (2A) AO can (after taking into consideration the nature and complexity of the accounts and the interest of the revenue) direct Assessee to get his accounts Audited (the subject audit is different than normal audit u/s 44AB of IT). -
sumit
says
: audit -0pinion
f we do statutory audit of companies, others,etc and gives our opinion on that ,, mean qualified ,disclaimer of opinion and adverse effect....then after the audit report is signed by both client and c.a .. my question is that ,wat happened of these kind of opinion's to the client co...?..who are the authorities that can take action against it? income tax dept or roc ..or Mca..... is there any penalties of these kind of opinions on client co?... no answer of after action is given in any book... plz guide...
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