Bank Balance Negative in Balance Sheet

Yes.... I totally agree with you.

I am not concerned about accounting entries, I just want to know that auditors should checked or not.

If multiple FD's are also running, then I thought auditors should checked it properly before putting figures in Balance Sheet. 

Total FD Deposit Amount

Total Interest Accrued Amount

If accountant is doing mistake in these entries then error in Balance Sheet is valid. After finalization of Balance Sheet who should responsible.

Is there any fine would be liable for making these mistakes?

 

Is the accounts under Tax Audit?

Yes, Accounts comes under Tax Audit.

@ Sushank
whatever you replied seem to be out of frustration. It is you who think it misbehavior .
You have a right.

Looking at your profile, this is odd.

You are sticking to one thing - competency of Auditor ???

Is there any issue ? I don't think any.
Except to prove before management .

what expansion of knowledge ? I have a right to disagree.

it is going to be very tough for management to assess competency level of Statutory or internal auditor.

Repeating again and again same thing leads
nowhere. Management can simply replace.

Bye ... no more on this .....

@ Kumar Sushank
 

Just create an account "Cheque Issued but not cleared" in Liabilities Side, and transfer the Unreconciled entries in that a/c.

In new FY reverse the entries and reconcile the statement.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details