[aaykarbhavan] Re: [CA_UPDATE] Answer to Query 1 Can a CA Certify Future Projections

Dear Shri Rajeshji,
                       This is the way Practice!!!!!!!!!!!!!!!!!!  What you can not do others can do. Come what May Like !!!!!!! Everything can be settled later on .......................... No bpody cares?? 
Regards,
C A Shah D J
USA

On Thursday, 27 March 2014 8:30 PM, Rajesh Sewlani <sewlani@yahoo.com> wrote:

 

dear dagaji

it is not advisable to certify Provisional Balance Sheet or Projected/Estimated Balance sheet with any kind of rider of disclaimer.  Banks dont read the certification part, they simply see the Stamp Affixed by CA.

Further, the banks are un-reasonable is many other certification. in one of my client, bank wanted me to certify the NETWORTH of the client based on market value of the properties.  it was refused politely and explained to client that it is not within the preview of CA to certify Market Value.

The on telephone, the banker argued, that all other CA give them this kind of statement, why i am refusing.  i wonder, which chartered accountant and on what basis can certify the market value of properties.

its better to explain to client and banker

regards

CA Rajesh Sewlani

On Tuesday, March 18, 2014 7:01 AM, HIRALAL DAGA <hpd4347@gmail.com> wrote:

 

Dear Brother,

Many Banks  nowadays asking the signature of CA on the Projections submitted for Loan or its Renewal etc.One can certify the Projections with qualifications note stating that these are Estimated  Projections only  based on certain assumptions/ information given by the Client... and in no way we guarentee its performance by the client.

 

Or say. We have prepared these estimated projections based on the assumptions / information as given by client and we are guarenteeing its actuality in future as it is beyond our reach.

For giving estimated projections CA can not be held responsible.

Thanks & Regards.

 

CA.H.P.DAGA.

Chartered Accountant.

195/20,Bhudhawar Peth,Daga Niwas,

Solapur - 413002(INDIA)

Ph.:0217-2724347 Cell:91+9423590247

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