Statutory Audit Required for Registered Nurses No, statutory audit not required for Registered Nurses (RNs) in India. Statutory audit is a legal requirement for certain types of businesses, but it is not requir for individuals or professionals, such as RNs. However, there are some situations where an RN may choose to get a statutory… Read More »
Statutory Audit for Architects Ensuring a successful statutory audit for architects in India involves several key steps to maintain transparency, compliance, and accuracy in financial reporting. 1. Maintain Comprehensive Financial Records: Architects should keep well-organized records of all financial transactions, including income sources and expenses. This documentation should be up-to-date, accurate, and easily accessible.… Read More »
Statutory Audit Required for Architects Yes, statutory audit requir for architects in India under certain circumstances. According to the Companies Act, 2013, any business or profession that falls under the category of a company. Whether this is a Pvt Ltd, public limited, or one-person company, required to undergo a statutory audit. This includes architectural firms… Read More »
Legal Requirement of Statutory audit Legal Requirement of Statutory audit for certain types of businesses in India. The Companies Act, 2013, which governs companies in India, specifies the criteria for businesses that are required to undergo a statutory audit. The following are the criteria for statutory audit for doctors in India: If the doctor’s… Read More »
Challenges Come for Doctors For Statutory Audit Doctors in India may face several Challenges Come for Doctors For Statutory Audit. One significant challenge is the complex nature of their income sources and expenses. Medical practitioners often have diverse revenue streams, including consultation fees, hospital affiliations, and research-related earnings. Tracking and categorizing these sources accurately… Read More »
Statutory Audit Required for Doctors In India, Statutory Audit Required for Doctors unless their gross receipts or turnover from medical practice exceed the prescribed threshold limits. Doctors and other professionals are primarily subject to tax audits under section 44AB of the Income Tax Act if they meet certain financial criteria. If a doctor’s gross… Read More »
Conducting Statutory Audit for Doctors The purpose of conducting statutory audit for doctors in India is to ensure financial transparency, accuracy, and compliance with relevant laws and regulations. A statutory audit is a mandatory examination of a doctor’s financial records, statements, and transactions by an independent Chartered Accountant. This process aims to achieve several… Read More »
Statutory Audit Required for Editors No, statutory audit doesn’t requir for editors in India. Statutory audit required for Editors and certain types of businesses, such as companies and trusts. However, editors are typically self-employed individuals and do not need to have their accounts audited by a statutory auditor. However, there are some cases where… Read More »
Statutory Audit for Registered Nurses Determining whether a statutory audit for Registered Nurses it is applicable, involves considering various factors related to their financial activities and professional status. Here’s a breakdown of the process: 1. Nature of Income and Earnings: The first step is to evaluate the nature of income and earnings of Registered… Read More »
Purpose of Conducting Statutory Audit for Chemists The Purpose of Conducting Statutory Audit for Chemists is to: 1. For assessing the accuracy and fairness of the financial statements: The auditor will review the financial statements and supporting documents to ensure that they are accurate and reflect the true financial position of the chemist. 2. Enhance… Read More »
