SA 240, Fraud committed by Third Parties

asked 8 hrs ago

Could you please give me an example relating to fraud committed by Third Parties as per SA 240

latest answer

No answers yet!!

Poluru Penchalaiah

CA Final

★ 10K+

0

0

Review vs audit

answered 1 day ago

In this test your understanding 5 Auditor of the company can provide review engagement services

latest answer

Yes. He will be able to provide limited assurance on quarterly financial statements

siddesh N

CA Inter

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1

14

Permitted Partnership clause (4)

answered 1 day ago

1.Including a resident who but for his residence abroad would be entitled to be registered as a member under clause (v) of subsection (1) of section 4. Can you please explain with example 2.The last example in the video i.e CA holding COP is a partner in 2 business firms & M.D in 2 Companies.. Then CA Shall be deemed to be guilty of Professional misconduct. Can he do the same with prior permission from the institute?

latest answer

Thank you Mam

Harini Desu

CA Final

★ 80

2

17

Clause 2 - Cannot share fees etc

answered on 21-May-25 22:25

In the Initial Partnership Deed, it is not provided that the legal representative of the deceased partner receive the profits of the firm. Later, after the death of Mr.B firm reconstituted the agreement and add the legal representative provision. can partners do so ?

latest answer

No this is not possible even by reconstituted firm. Concept of LR doesn’t hold good for partnership. No one can become partner by inheritance, it happens only by agreement.

Harini Desu

CA Final

★ 80

1

20

Portfolio Management

answered on 13-May-25 09:26

Mam Can CA in Service provide Portfolio Mgt Services ? Will This might happen in the case of CA being Investment Banker?

latest answer

In service he will be allowed provided he fulfils all the required conditions.

Harini Desu

CA Final

★ 80

1

28

Ethics

answered on 14-May-25 17:35

if CAP fails to mention his MN, FRN, and UDIN in the report, does this professional misconduct come under either Clause 12, Part 1 of the First Schedule, Clause 9 of Part 1 of the Second Schedule, or both?

latest answer

Clause 1 of part II of second schedule

kathiresh V

CA Final

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3

47

Clause 10 , Part 1, Second schedule

answered on 04-May-25 14:17

Mam, If Client has given the money for two purposes, ex : Advance tax and GST payment , but at time of GST payment the money is not sufficient so CA has used the client money which has given for Advance tax. Is this fine mam ?

latest answer

The money was given for a specific purpose Using it for a different purpose (GST), even for the same client, amounts to: -Breach of fiduciary duty. -Violation of the intended use of client funds. So he will be guilty

Sai Vema

CA Final

★ 107K+

1

46

Clause -4 , Part -1 , Schedule 2

answered on 02-May-25 00:44

Mam, If a director of a ABC ltd company joined as a partner in CA firm which is audit firm of ABC ltd, can the Firm continue as auditors of that company ?

latest answer

No they cannot. It’s self interest and familiarity threat.

Sai Vema

CA Final

★ 107K+

1

32

clause -6

answered on 01-May-25 10:57

Mam, in this question , Mr. Old introduced to Mr. young but not for any specific work, then when Mr. Young accepted the assignment, why it is considered as Original work ?

latest answer

You are right. Introduction doesn’t mean solicitation. But this question is in reference to understanding the clause 6. It’s assumed that client will take up the decision to pass on original work to him.

Sai Vema

CA Final

★ 107K+

1

32

Depreciation

answered on 01-May-25 10:59

Is depreciation on fixed asset allowable for hospitals and schools if they are registered as trust or society ?

latest answer

Yes, depreciation on fixed assets is allowable for hospitals and schools registered as a trust or society, subject to certain conditions under the Income Tax Act, 1961

Mebin Baby

CA Inter

★ 0

1

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