Requirements of the companies act, Auditing

Assignment Help:

Requirements of the Companies Act

Here the seventh schedule to the Companies Act gives the matters which must be expressly stated in the AUDITOR'S REPORT

1. Where they have got all the explanations and information such to the best of their knowledge and belief were essential for the purposes of their audit.

2. Where, in their own opinion, proper books of account have been kept through the company, such far as appears from their examinations of those books, and proper benefit adequate for the certain of their audit have been obtained from branches not visited through them.

3.  A. Where the company's unless it is framed as a consolidated profit and balance sheet and loss account profit and loss account dealt along with through the report are in agreement with the books of account and returns.

  B. Where, in their opinion and to the best of their according and information about to the explanations provided them, they said accounts provide the information required through this Act in the manner so required and provide a fair and true view:

  • In the case of the balance sheet, of the condition of the company's affairs as at the end of its financial year; and
  • In the case of the profit and loss account, of the loss or profit for its financial year, or

Related Discussions:- Requirements of the companies act

Process to adopt liabilities, Process to Adopt Liabilities It is signi...

Process to Adopt Liabilities It is significant that the auditor realises which such liabilities can exist and he should obtain reasonable steps to unearth them whether they ex

Audit, Why is studying Auditing different from studying other accounting to...

Why is studying Auditing different from studying other accounting topics?

Advantages and disadvantages of joint audits, Advantages and Disadvantages ...

Advantages and Disadvantages of Joint Audits The general disadvantages and advantages of joint audits as: Advantages 1. All fees and work are welcome to audit firms. 2. A

Internal controls, under what circumstances are internal controls inappropr...

under what circumstances are internal controls inappropriate for auditors to check?

Important points about auditor - audit process, Important Points about Audi...

Important Points about Auditor - Audit Process The Points that should be noticed that: i. The auditor must forever date his audit report. This date should be as close as pr

Tds, how to operate distribute amount and section rate also provision party...

how to operate distribute amount and section rate also provision party bill

Information in the fixed assets register, Information in the Fixed Assets R...

Information in the Fixed Assets Register The register can obtain the following information: i. Fixed asset number. ii. The cost and the date of purchase. iii. Descrip

Show the audit work of the given capital project, In planning the audit wor...

In planning the audit work of the Ministry, the audit staff member collected these details relating to the construction of an office complex. 1. In September 1994, the Ministry

Verification, procedures for verifying a fixed assets

procedures for verifying a fixed assets

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd