On Monday, 2 February 2015 5:16 AM, Dipak Shah <djshah1944@yahoo.com> wrote:
Dear Annaji,I do agree that as per Companies Act they are not for public. But should it be considered that the way and loophole can be used to do wrong things. It is a part of Shareholders right when Accounts are circulated to shareholders and Tax Audit Report is reported the other way out , it is a part of shareholders right to have it.I Believe so.One way to show Book profit by way of avoiding the Reporting Duties and the other way in Tax Audit reducing the Income / profit!!During the Audit period , it is the duty of Auditor to find out fraud and reporting to the shareholder . Can never be avoided as a professional , ethical standard, principle standard, Law Provisions also.Under the Companies Act it is the duty of Auditor to report just mere book entry of profit specifically, avoiding the same provisions as Auditor in Audit Report and the other way excluding the same Income as Taxable in Audit Report?Is it not an apparent fraud ? It is a positive shirking the Professional Duties out right. During the Course of Audit in any case, bank audit or other Audits, if you find any thing it is your moral duty to report out right. You can not shirk that it is duty of the other person to report it and all.You decide the matter from the attached documents your self and say.Regards,Shah D JOn Sunday, 1 February 2015 10:52 PM, "Ramachandran Mahadevan ramachandran.mahadevan@gmail.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:
Dear Members,RBI inspection,investigation can discover frauds.Financial audit is not for discovering frauds.Tax audit report and cost audit report,secretarial audit alsoAre not for shareholders inspectionRamachandran M
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On Jan 31, 2015, at 19:47, "Dipak Shah djshah1944@yahoo.com [ICAI_CIRC_MEERUT_CA]"<ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote: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 JOn Thursday, 29 January 2015 4:05 AM, "Ramachandran Mahadevan ramachandran.mahadevan@gmail.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:
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Posted by: Dipak Shah <djshah1944@yahoo.com>
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