Fees to statutory auditor
This query is : Resolved
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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
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
(Expert)
25 November 2023
It should be disclosed like this.
Payment to statutory auditor.
Audit fees.
Fees for other certification.
Payment to statutory auditor.
Audit fees.
Fees for other certification.
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25 November 2023
Account the fee as LEGAL AND PROFESSIONAL CHARGES...
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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?
That is the statutory audit fees only be accounted under Audit fees.
Other fees are accounted under professional charges?
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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06 December 2023
You can Treat under Professional Fees Ledger
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