Question
Please solve the below questions: (b) Excel Ltd. is a Public Limited Company. The said Bank has different branches all over India. The Bank selects
Please solve the below questions:
(b) Excel Ltd. is a Public Limited Company. The said Bank has different branches all over India. The Bank selects 3 Joint Auditors for the monetary year finishing 31/03/2019. All the 3 Joint Auditors partition the work with shared assent. Check of Consolidation, in any case, stayed unified. All branches and zones were isolated among the 3 Joint Auditors. During review of zones, CA. Z, one of the Joint reviewers communicated a worry about inner control in one of the huge corporate branches arranged. in his zone. The anomaly was not announced in the last records as the other 2 Joint Auditors were not for detailing and choice of not revealing the equivalent was assumed the premise of dominant part. Thusly, misrepresentation was identified in the said branch which was examined by CA. Z.
The Bank looks for your recommendation about the obligation of the 3 Joint Auditors in the above situation. (5 Marks)
(c) A is the owner of a firm M/s ABC and Co. The firm has a turnover of ' 500 lakhs during the monetary year finished 31/03/2019. The firm sold land and working during the year for a thought of ' 15 lakhs, whose esteem for stamp obligation designs was ' 16 lakhs. As' the Tax Auditor of the said firm, is the above to be accounted for? On the off chance that truly, in what manner will you report the equivalent?
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