Forums
Can a Pvt Ltd entity do the other services like advisory,consultancy...other than assurance
Auditing
answered 12 hrs ago
Ma'am...i saw the earlier queries addresses where it is said that no service can be rendered by company... I have seen one of the entity providing consultancy services where they have registered as Pvt Ltd....is this right are there any exemptions provided..
latest answer
There is no exemption under ICAI allowing a company to practise accountancy. Entities you see operating as Pvt Ltd could be providing non professional accounting Consultancy A Pvt Ltd cannot: Hold itself out as providing CA services Use the designation “Chartered Accountant” in its trade name Undertake statutory audits, tax audits, GST audits Issue certificates under Income-tax Act / GST Act
Abhinav K A
CA Final
★ 1K+
2
10
preconditions
Auditing
answered 12 hrs ago
What happens if preconditions for an audit are not present? limitation on Scope of auditor’s work prior to acceptance of Audit engagement Acceptance of a change in terms of Audit engagement Recourse for the auditor in a situation of non-agreement - non reasonable change Mam in all the four cases we have to see reasonable justification available - draft new EL otherwise give disclaimer of opinion or withdraw from engagement by full reporting requirements to TCWG,Members whether it is correct
latest answer
If preconditions are not present or limitation is prior to accepting the engagement, we don’t accept the engagement. Later if they impose limitation, then we can end up with disclaimer of opinion or withdrawal
21SCO08 mahalakshmi
CA Inter
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1
10
question paper
Auditing
asked on 17-Jan-26 20:17
Mam whether in the exam they mention the type of SA or otherwise we have to find that one
latest answer
No answers yet!!
21SCO08 mahalakshmi
CA Inter
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0
18
CARO 2020 Clause 21
Auditing
answered on 17-Jan-26 20:46
Whether clause 21 reporting to be done in standalone FS Audit report of Parent or in Audit report of Consolidated FS? [Video Time Stamp: 02:40]
latest answer
Cfs
rashid poonthala
CA Final
★ 31K+
1
14
Clause 6 ,schedule 1 part 1
Auditing
asked on 14-Jan-26 12:30
1.If a member with cop is conducting some sessions like sessions on gst on its own and advertising that would it violate clause 6 schedule 1 part 1 2.if he is say visiting faculty guiding ca students we can say guest lecturer of some insttitute some college govt or private will it violate the clause
latest answer
No answers yet!!
Gauri Shete
CA Final
★ 4K+
0
16
Disclaimer of opinion
Auditing
answered on 12-Jan-26 19:20
In listed entities it's compulsory but when it's disclaimer of opinion then KAM should not be included in the audit report is applicable for listed entities also???
latest answer
Yes . Kam and Disclaimer never to be reported together. In all cases including listed entities .
PRIYA THARISINI
CA Inter
★ 780
1
20
External auditor vs internal auditor
Auditing
answered on 12-Jan-26 19:19
Ma'am, external auditor - mr y Internal auditor -CA X Is this statement correct ma'am? If yes, then the question has to be... can mr y rely on such reports? Need some clarification on this ma'am [Video Time Stamp: 01:37]
latest answer
Yes .you are right. My Y us external auditor and X is internal . So can Y rely on x
Mutchukota Akhila
CA Inter
★ 4K+
1
42
Clause (1)(e) BENAMI TRANSACTIONS
Auditing
answered on 19-Dec-25 09:48
Ma'am , if proceedings relating to benami property have been initiated under the Benami Act and the company has properly disclosed the same in the financial statements, does the auditor still have to report it under CARO 2020? For benami property under CARO 2020, does reporting depend on existence of proceedings or on improper disclosure? [Video Time Stamp: 18:24]
latest answer
Reporting is done by the initiation or pendency of proceedings under the Benami Act and not by improper disclosure. Even if proper disclosure is made, the auditor is required to report the existence of such proceedings.
Priya Dharshini
CA Inter
★ 0
1
46
Clause(xxi) [CARO]
Auditing
answered on 20-Dec-25 20:38
Ma'am , if Clause 21 of CARO 2020 is applicable, do we have to mention it in the audit report on consolidated financial statements? If yes, under which heading should it be reported? [Video Time Stamp: 02:42]
latest answer
It will be reported under ‘other matter paragraph’
Priya Dharshini
CA Inter
★ 0
1
55
Self review threat
Auditing
answered on 20-Dec-25 20:42
Mam, as you explained in this video that if an accountant having access to corporate assets for personal use why will it come under self review threat? it comes under self interest threat right as he is benefitting from that? [Video Time Stamp: 03:36]
latest answer
Access to corporate assets for personal use gives rise to BOTH threats: Self-interest threat -due to personal benefit Self-review threat -because the accountant may later review or rely on records relating to his own use of assets In Professional Ethics questions, ICAI often highlights the dominant threat as Self-review because it directly affects audit objectivity and reliability. ICAI focuses on the professional function that can get affected and not just the benefit. So you are not wrong, but icai highlights more on self review .
Syamala Yakkala
CA Final
★ 1K+
1
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