SIVASIVA (FCA, Future CA) (4935 Points)
05 June 2010Whether Audit report given for Partnership Firms require Notes on accounts on Accounting Standards.
If so, What are the mandatory standards,
Awaiting the users toshare their experience
CA Shantanu Goyal
(Practicing CA)
(122 Points)
Replied 05 June 2010
hi
every entity is required to give minimum disclosures on applicable accounting standard as required by the corresponding accounting standard
Applicability of standard depends upon nature and size of business of the entity.
please consider the levels as prescribed by the ICAI for determining the applicability of accounting standards
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