Question ID :
20170
GUIDANCE ON ACCEPTING AUDIT AND EXPRESSION OF OPINION ON THE SAME
Facts of the case
The newly elected body of an registered association approach me for the audit of association.
They have no PAN.
They have not prepared books for the past 7 years due to internal disputes and the related court proceedings.
After the settlement of disputes, the newly elected body ask completed books of the past years.i.e. books before 7 years.
but the opposite party i.e. Previous management which already leave the association and formed a new association, refused to give the books.
The newly elected body would not have taken any legal steps to recover the books as they tired of previous long legal battle.
Moreover, the association collects subscription and spend almost all amount within the year.
There was no any asset except cash and other immaterial amount.
The newly electoral body inform me that they know the Chartered Accountant who was in their period only and they don’t know about later.
Query
1. Now what shall I do?
2. How to express opinion on the books prepared for the current year without opening balances?
Posted by
M RAJKUMAR
on
Sep 21, 2017
Filed Under
AUDIT