Sajid Rahman (C.A. Final) (71 Points)
24 April 2009Hi...can anyone pls tell me under which provision is it mandatory to number the fixed assets?
Fixed asset register mentioning the location, quantity etc. is available but the assets are not numbered. Will this case be something to be highlighted in the CARO Report if the numbering is mandatory?
Nandoo
(CA Final Student)
(46 Points)
Replied 24 April 2009
| Originally posted by :Sajid Rahman | ||
| " | Hi...can anyone pls tell me under which provision is it mandatory to number the fixed assets? Fixed asset register mentioning the location, quantity etc. is available but the assets are not numbered. Will this case be something to be highlighted in the CARO Report if the numbering is mandatory? |
" |
Nandoo
(CA Final Student)
(46 Points)
Replied 24 April 2009
| Originally posted by :Sajid Rahman | ||
| " | Hi...can anyone pls tell me under which provision is it mandatory to number the fixed assets? Fixed asset register mentioning the location, quantity etc. is available but the assets are not numbered. Will this case be something to be highlighted in the CARO Report if the numbering is mandatory? |
" |
Sajid Rahman
(C.A. Final)
(71 Points)
Replied 24 April 2009
what is STPI?
my question is only regarding the numbering of the assets....The register is properly maintained by the Co.
M. Gokulakrishnan
(Assistant Manager - Taxation)
(49 Points)
Replied 24 April 2009
Numbering of Fixed Assets is no where made mandatory. In CARO report, the Auditor should certify that, "THE COMPANY IS MAINTAINING RECORDS SHOWING PARTICULARS INCLUDING QUANTITATIVE DETAILS AND SITUATION OF FIXED ASSETS".
If the descripttion used by the company other than numbering is not adequate, then CARO has to be qualified.
CAclubindia
