Month: December 2021

In terms of the general principles of law, any person having the lawful possession of somebody else’s property, on which he has worked, may retain the property for non-payment of his dues on account of the work done on the Read More …

As laid down by section 229 of the Companies Act, 1956 only the person appointed as the auditor of the company or where a firm is so appointed, only a partner in the firm practising in India may sign the Read More …

SPECIMEN AUDITOR’S REPORT TO THE MEMBERS OF THE COMPANY The Members of ………………(name of the Company)1 1. We have audited the attached balance sheet of ………………. (name of the company), as at 31st March 20XX, the profit and loss account Read More …

The following paragraphs deal with the manner of qualification and the manner of disclosure, if any, to be made in the auditor’s report. AS-1 – DISCLOSURE OF ACCOUNTING POLICIES In the case of a company, members should quality their audit Read More …

Limitation on Scope: A limitation on the scope of the auditor’s work may sometimes be imposed by the entity, for example, when the terms of the engagement specify that the auditor will not carry out an audit procedure that the Read More …

An auditor’s report is considered to be modified when it includes: 1. Matters That Do Not Affect the Auditor’s Opinion • emphasis of matter 2. Matters That Do Affect the Auditor’s Opinion • qualified opinion • disclaimer of opinion • Read More …