[aaykarbhavan] Re: {Amresh's CA's} Re: {Amresh's CA's} Re: {Amresh's CA's} Perform audit function -" ..................

Dear Shri Shula,

        You are absolutely right and correct. In fact Auditor may not be responsible for bad accounts. But red signel should be signed by Auditor if he find some fishy transaction , diversion of funds , over statement in stock and many bad practices. Our liability starts from there when you find such Practices.

This reminds me a case of Ratnamani Engineering Limited ( Now Ratnamani Metals and Tubes Limited) where in the case Auditor purposely evaded the fact of mere book entry of profit , for the accounting year 31.03.1994!!!!???? ought to have reported in his report but failed to report, who cares??!!!was considered as profit and Company took advantage of such allowed entry of profit  and declared and paid the dividend. At the same time and same Auditor Reduced Taxable Profit not taxable Profit , mere book entry of profit , not taxable in Their Tax Audit Profit. How carried out every where , Auditor C R Sharedala & Co of Ahmedabad knows , even now also Company Carried  out the same with all Judiciary !!!!!

In short I have to request  you all carry out the Profession with some standard at High.

God bless you.

C A Shah D J 

On Thursday, February 26, 2015 11:40 AM, "Jamuna Shukla sjamuna69@yahoo.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:

 

Sir, Is the auditor really responsible for turning the large accounts in bad accounts? ? More vigilance is required by bank authorities while they sanction such accounts. And large accounts are under continuous monitoring of higher authorities  of bank. There is very less chance that auditors fail to report its adversities. As statutory auditor its our all efforts to classify them properly and we all know how easily we are  doing this right job. Jamuna Shukla  Sent from Yahoo Mail on Android From:"pvrg2000@gmail.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> Date:Thu, 26 Feb, 2015 at 11:05 Subject:{Amresh's CA's} Re: {Amresh's CA's} Perform audit function -" ..................   If all of us do an effective audit of banks, the banks will appoint few CA firms like LIC to do central and branch audits and done away with the headache of appointing many CAs in all over Country. It will come soon.  Tell me which auditor firm had come out with serious qualification in bank and PSB audits? We are not doing the proper audit so every one is treating us like peanuts Failure of large borrowers coming out because the stress in this accounts were not looked by all audits in time and halted the quantum of failure

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Posted by: Dipakkumar Shah <cadjshah@yahoo.com>

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