Question ID :
44796
Peer Review
As per recent peer review notification, practice units which propose to undertake the statutory audit of entities which have raised funds from public or banks or financial institutions of over 50 cr or any body corporate including trusts which are covered under public interest entities are required to have PRC. My query is which trusts are covered under public interest entities ? Whether all public charitable or religious trusts are covered under this category even if they have not raised funds from public or bank above 50 cr ?
Posted by
CA KEYUR SUKHWANI
on
Feb 13, 2025
Filed Under
MISC.
all charitable trusts /NGOs are covered without limit. Threshold limit of over Rupees 50 crores is not applicable
Posted by
SIVADAS CHETTOOR on
Feb 16, 2025