Whether there is any change in Audit Report??and whether its applicable for all the Companies or just Banking???Please Reply
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Revised audit report
Replies (10)
Yes, Audit Report has been revised.
Ya but is it applicable to all companies
It is applicable to banking companies as well.
banking companies as well-
"means it attracts other company as well as banking. Is it??"
While I was checking the ammendments I got a line
"Applicability of the Revised Audit Report Formats (including for bank/ bank branch audit reports) and Reporting in respect of Memorandum of Changes in Bank Branch Audit Reports"
What does that words ....in respect of Memorandum of changes in bank branch audit report ...means??Please explian
Yes. banking companies are also required to be registered under Companies Act, 1956 and Sec 211 and other audit provisions are aalso applcable to banking companies to the extent they are not in-consistent with Banking Regulation Act. Since banking Regulation Act has only prescribed the format of balance sheet and profit and loss account for the banking companies, so for the audit report, we will have to take resort of Companies Act, 1956.
Sorry, but i also dont have any idea of "Memorandum of changes in Bank Audit Report"
Ok,,,no problm...but please make it clear my company is manfacturing one ...as per ur statement I believe that revised format is applicable isnt it??
Yes.definetly.....
Thanks a lot:)
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