Become a Govt. Certified GST Practitioner in just 58 hours. Register Now!

Professional Fees Bill by PCS

Madhur (N. A.) (151 Points)

01 June 2010

Can a Practising Company Secretary issue a professional fees bill for Tax Audit and Statutory Audit. If the PCS is himself conducting all the audit work and using a PCA for only certifying such Audit Report. If no, in form the bill should be issued?

Reply
Follow
Share

3 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114778 Points)
Replied 01 June 2010

According to me all the bills should be raised in the name of the firm of Practicing CA for administrative convenience and proper accounting record.

Regards

Upgrade to CAclubindia Pro. Subscribe Now!

Madhur (N. A.) (151 Points)
Replied 02 June 2010

Dear Ankur Sir, it will be greatful if you suggest me some other way to charge such fees, as i am not willing to give him ca bill for audits

CA.SKR (CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional) (442 Points)
Replied 03 June 2010

Dear Madhur,

Only a Practising CA can conduct Tax Audit and Statutory Audit of a company. The amount of Audit fees in both the above cases is to be disclosed in the Notes to Accounts. The name of auditor will also be there on the Auditor Report.

The bills for professional fee should be raised by PCA only, as he is rendering professional services. Further, when name of the auditor as well as the amount of audit fee is known to the client, why you want PCS to raise bill in his name??