Bad debt

313 views 1 replies

Friends/Seniors

A company wants to write off its debt as bad without making provision for doubtful debt. The debt is continuing in the books for last 4 years.

What could be the statutory auditor's view regardig this. Is making a provision first and then writing off mandatory.

Regards,

Replies (1)
There isnt any requirement for making a provision first and then writing off the debt as bad..debt can become by unforeseen events..


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register