Originally posted by :RENJITH MANI
"	Guys Hw was auditing today I was not able to give specific answers to few qtns. The CA took loan brings disrepute to profession right...? and the does london stock exchange makes a company listed ? Is there anything wrong in a company being extra conservative and credit grants to cap res? and so on Otherwise the paper was ok and time was sufficient	"

Bingo Thats what I had written.

Not only it brings disrepute It also an INDIRECT solicitation under clause 6-Sec 1. No where it is specified under Clause 6 that CA should get money to count as solicitation. He is indirectly geting busines..Off course main cause being UNETHICAL and BRING profession into disrepute. So PART 4 Other Misconduct applies.

 

I felt auditing was quite easy. I didn't know ans to applicability of a/cing std to s&m companies.

What about the second part of Q2 in Auditing. Does it matter if he charged excess fee or not. What rules exist,

 

Please share..In fact can you give answer of Q 1 & Q2

Originally posted by :Gayathri. B.A.
"	I felt auditing was quite easy. I didn't know ans to applicability of a/cing std to s&m companies.	"

What about the second part of Q2 in Auditing. Does it matter if he charged excess fee or not. What rules exist,

 

Please share..In fact can you give answer of Q 1 & Q2

 

What abt the complaint against max fees?Progressive fees?

I did a blunter ... First I wrote the solicitation of work point for that Ethics Question...Later I cancelled and wrote its PART IV.

 cudn write Envirnmntl Audit,Club Exp correctly..Just gave some points

excess fees- I wrote it should have been agrred by audit engagement letter, its upto him to charge fees(i dont knw whether its right )

abt progressive fee pyment, its witin ethical stds. (refer chapter on company audit- eligibility of auditor)

Q1- i'm not sure

excess fees- I wrote it should have been agrred by audit engagement letter, its upto him to charge fees(i dont knw whether its right )

abt progressive fee pyment, its witin ethical stds. (refer chapter on company audit- eligibility of auditor)

Q1- i'm not sure

Originally posted by :Gayathri. B.A.
"	excess fees- I wrote it should have been agrred by audit engagement letter, its upto him to charge fees(i dont knw whether its right ) abt progressive fee pyment, its witin ethical stds. (refer chapter on company audit- eligibility of auditor) Q1- i'm not sure	"

I was not sure on excess fee as well. Just wrote that none of the provisions of the CA act refer to it. In the past there was a restriction that a CA should not charge less than his precedessor but even that was withdrawn.

So he is well with in his rights to charge any sum.

I confused progressive pament with clause 10 of Sech 1 on % fee. Hmmm

Lets study Law now...Best of .luck to ALL

 

 

In auditing- the CA can take excess fees. There is nothing contained in the act prohibiting CA to take fees up to limited extent. Further, the audit fees depends upon so many factors eg. Amount of work done, time taken to complete that assignment, etc. Last but not the least, you know that in general the audit fees differs from CA to CA. So the client can not just in directly to the council for lowering the fees. HOWEVER NO SPECIFIC PROVISION Given in the act. (this is my personal view only-) reply.

hey people: I had done my accounts & auditing paper  gud.....All these papers were actually lengthy but  some wat  normal to work out... i beleive... but my mafa paper was a disaster... even after this auditing exams r over... im not able to concentrate on law....and im typing this havin viral fever....i m totally depressed with ... guilty.... i cudnt remember anything.. my mind is able to visualize the problems ... but   i cud not put it in writing ...something was obstructing me....i cudnt even remeber the easy questions... on the whole... even if im going to do all other paper well( sworn to do so)  i don  no i will clear in mafa  or wat???

hey guys, there is a ceiling on the maximum amound of fees. but that is a self regulatory measure. fee from a client shouldn't exceed 40% of ur total amount of fees.

Hi all i ve seen that lot of guys are confused on the excess fees charged - Did all forgot the infamous issue with our little master Sachin and his auditor- on excessive fees charged by the auditor- the council decision as far as i remember was in favor of the member making it clear that its a CA to price his services, but AAS on terms of engagement advises the members and clients to agree the fees in advance but that too in  THIER OWN INTEREST so what claim the poor partnership firm can have even when SACHIN did not have any with all the media roaring for the blood of that CA who borrowed money from sachin and charged excess fees.

Hi Soumya me too was too down and felt kind of robbed when i walked out of a/cs exam hall. but just take it easy if u had a tough day be a tougher girl just let youself up. its not an exam thats going to decide the life for u. cheerup and anyways if you have taken the effort the examiner is going to see that in yr paper though you might judge your work below par. just be like a horce - see only towards way ahead block your sideways vision and never llok back

by de way hw was CL today guys. I am not a particularly happy man and not too sad as well. Feel that the qtns from other Acts where too hasrh a lot of qtns were on trivial areas like compounding etc . Companiea Act also gave a break to producer cos, too many Qtns came from areas like windingup. arrangements, foreign companies, oppresion etc i have never seen all these areas being asked on a single exam so the paper was a surprise to me since it was totally against my expectations

You know what !!! I guess finally ICAI is becoming smarter. Earlier,any one could clear the Accounting paper or CLB foucs by doing past 10 years paper.

They are now making paper very smartly to make sure only those get good marks who do the complete syallabus (60+). For others focussing on so called ABC analysis can they still get 40-50.

Thats how the paper should be. We are expected to know even winding up and all. Intead of just standard questions.

If you see the paper are set-up from C category with the percentage of C category being as high as 30%. Which is making making paper look lengthy.

Still here were so many Straight questions in CLB, Auditing which could make sure that any one who has done A category shall end up getting 40 +.

Great Job!! Finaaly the Giant has woken up!!! Now please request all of you to mark a mail to president an email with a request to make some portion at least Objective.

Afterall CA all about checking the Knoweledge and not if we can Mugh up the sections or not.

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Last year my friend had made a communication to President and at least 10 other office bearers sharing my concern on the Quality of the CA Paper.They in fact had called him back as well.

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