Problem in repayment

Co Act 2013 289 views 1 replies

One of the Company in order to repay the deposits has credited all the deposits to its P&L and thereby the resultant deposit outstanding comes to zero. 

As an auditor, we are under ambiguity that once this option is exercised what options do we have so as to auditors liability is ceased.

Thanking You,

Replies (1)

How deposit can be  credited to P&L Account?  You can ask for balance  confirmation from  the deposit holder.

 


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