Few months back my father, who is a tax practioner, told me that a CA came to his office and asked for business. He assured him that he will stamp any balance sheet or audit report. He can even help clients in taking loans from banks. Though my father told him that he will consider him next year but he wasn't happy with his views.
We study that audit can be done when accounting books are maintained. How can you audit a balance sheet prepared on estimates? Many professionals and bank officials indulge in malpractices to give loans that are never repaid to the bank. Looking such incidents it seems that the corruption in present in professionals as well.
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