Dear Annaji,
All goes together . Nobody can blame others. At every stage one should work as professionals. Unlike , just now said by R B I , on points of Bank Audits? C A are failed and R B I Investigators get success.
At every year Auditors should look for back years and also see the ways and means and way of working in every matter fully. For all these years it can not failed!!!!
It is 2000 to 2014!!!!
Take the case of Ratnamani Engineering Limited in 31.03.1994 !! The same Auditor Reported in Tax Audit Report the income shown as Real income and allowed Company to pay dividend out of mere book entry of profit !!! At the same time in Tax Audit Report the same mere book entry of profit was deleted as Profit Taxable under Income Tax !!!
In the same way in another Company well known big name cultured name benind, Rs 300 crore loss was wiped out by mere book entry of profit of Rs 325 Crores by transfer of assets Holding company to subsidiary company.!!!!!!!!!!!
Such bad practices will be out shortly when I will file a petition in CLB for Members as a Right to see and inspect the Tax Audit Report along with Published accounts are sent to shareholders and right to have Tax Audit report. This will restrict the Bad Practices by Companies.
The defense point taken is surprising !!!!
Regards,
Shah D J
On Thursday, 29 January 2015 4:05 AM, "Ramachandran Mahadevan ramachandran.mahadevan@gmail.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:
http://www.thehindubusinessline.com/companies/first-leasing-auditors-blame-rbi/article6830485.ece
Sent from my iPad
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Posted by: Dipak Shah <djshah1944@yahoo.com>
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