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Appointment of an auditor in the place of retiring auditor
Auditing
answered on 02-Dec-20 14:55
Sir here, it is said that the notice should be sent to members whose voting rights is not less than one percent of the total voting power or members whose paid up capital not exceeding5 lacks. Not exeeding 5 lakhs means even share holder having just one share should also entitled to receive notice. Is this correct
latest answer
This is the minimum requirement of shareholding to ask company to give special notice. Notice will be given to all.
sakthi saravanan
CA Inter
★ 510
1
303
Audit Programme and Appropriateness
Auditing
answered on 02-Dec-20 14:56
As per the definition given in the book, Audit Programme is a series of verification procedure to be applied to the financial statements for the purpose of obtaining sufficient evidence. It doesnt mention appropriateness (quality of) audit evidence. It is purposely omitted?
latest answer
It is implied.
Kumarjit Dey
CA Inter
★ 4K+
1
277
Benefits of Planning vs Overall Audit Strategy - assistance to auditor
Auditing
answered on 02-Dec-20 14:57
Since Audit Plan and Overall Strategy are closely interrelated. Can we write the points for benefits of audit plan if question asks for benefits of overall strategy and vice versa?
latest answer
They anyways have common points.
Kumarjit Dey
CA Inter
★ 4K+
1
299
What does this mean and why should this be recorded in Audit Engagement Letter i.e. in advance before even starting an audit
Auditing
answered on 02-Dec-20 17:27
" reference to the expected form and content of any reports to be issued by the auditor" What does expected form and content mean? If auditor is execting issue a qualified/unqualified report. Such thing? Why should such a thing be stated in advance (before even performing Audit procedures) in the AEL?
latest answer
Thank you.
Kumarjit Dey
CA Inter
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3
323
Engagement partner
Auditing
answered on 02-Dec-20 11:17
" refers to the partner or other person in the firm" What does institue mean by "other person"? Does this other person also have to be a Chartered Accountant?
latest answer
Yes.
Kumarjit Dey
CA Inter
★ 4K+
1
328
Co act
Auditing
answered on 02-Dec-20 11:17
Sir if any govt co listed under sebi act then it becomes public sector undertaking company,,,, in that case, ,,is rotation section is applicable to this govt public sector company. And sir if govt is listed under sebi in that case also, auditor is appointed by CAG
latest answer
For all govt companies CAG provisions will apply.
DEEP VICKY
CA Final
★ 685
1
288
Shouldn't the auditor be disqualified
Auditing
answered on 02-Dec-20 07:49
In most of these example cases (PFA)
latest answer
These are examples of threats to independence. Disqualifications are governed by Act which are based on these principles.
Kumarjit Dey
CA Inter
★ 4K+
1
305
Can you give an example of Structural Modeling technique
Auditing
answered on 02-Dec-20 09:48
Of Analytical procedures? In the book it is given linear regression, which i did not understand. Can you give another example?
latest answer
Thank you so much.
Kumarjit Dey
CA Inter
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2
314
Are "SCOTs" "WCGW" "TCWG" actual abbreviation used in Auditing?
Auditing
answered on 02-Dec-20 07:55
Can they be used be in writing answers?
latest answer
Advise not to use in exams.
Kumarjit Dey
CA Inter
★ 4K+
1
758
Is this an example of "reasonableness test" in Analytical procedures?
Auditing
answered on 02-Dec-20 07:55
Consideration of relationships between financial information and relevant non financial information such as payroll costs to number of employees
latest answer
Yes
Kumarjit Dey
CA Inter
★ 4K+
1
303
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