Month: January 2022

The Constitution of India contains specific provisions regarding the appointment, salary and duties and powers of the C & AG. The constitution guarantees the independence of the C & AG of India by prescribing that he shall be appointed by Read More …

Background Government Audit is as old as organised governments and has fairly long pedigree even in developing countries. The concept, content and scope of government audit have developed in tune with the political, social and economic development of the countries. Read More …

(1) For the purposes of Parts I and II of this Schedule, unless the context otherwise requires :  the expression ‘provision’ shall, subject to sub-clause (2) of this clause, mean any amount written off or retained by way of providing Read More …

It is already observed that section 211 requires that profit and loss account of a company should give a true and fair view of the profit or loss of the company for the financial year and should comply with the Read More …

Part I, Schedule VI to the Companies Act, 1956, prescribes the form of balance sheet and the requirements relating thereto. It should be noted that in addition to the requirements of the body of the Form which sets out instructions Read More …

Section 211 provides that every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of the financial year and shall, subject to the provisions of Read More …