Requirements of the companies act, Auditing

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
Posted Date: 1/24/2013 7:16:48 AM | Location : United States







Related Discussions:- Requirements of the companies act, Assignment Help, Ask Question on Requirements of the companies act, Get Answer, Expert's Help, Requirements of the companies act Discussions

Write discussion on Requirements of the companies act
Your posts are moderated
Related Questions
B. For the one activity/process you ranked the most significant, identify and evaluate four risks. a. Two of the risk should be high to medium significance, and at least one shoul

Problem 10.42 An investment of $83 generates after-tax cash flows of $49 in Year 1, $67 in Year 2, and $131 in Year 3. The required rate of return is 20 percent. The net presen

The first work you do in IDEA IS SECTION 2.5. The accounts receivable folder that you are instructed to select on page 25 is a folder that you are to create previously on page 23.

Techniques of Obtaining Evidence ISA 500 mentions them as such: Inspection of documents or records, Inspection of tangible assets, Observation, Inq

Kevin Black, the sole owner of a small bakery, has been told that the business should have financial statements reported on by an independent auditor. Kevin Black, having some b

Part A: What are the five inter-related components of internal control? Briefly discuss them. Part B: A file maintained by the Accounts Department for one of Sharp's s

Current Audit File The current audit file may involve inter alia: a) A copy of the audited financial statements and other report prepared such as a conclusion of audit work

only needs to be 2 - 3 pages and I need help with an audit plan is to look like

Case Study: Hide-It (HI), a family-owned business based in Tombstone, Arizona builds custom homes with special features, such as hidden rooms and hidden wall safes. Hide-It has

Counter - Indications That the auditor has found indications of going related to non-applicability does not of itself justify instantly conclusion that the entity is not a goi