Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 5.00

auditor of PQR Ltd.

B is appointed auditor of PQR Ltd., at a total remuneration of Rs.50, 000, classified as under: (i) For Unit X of the Company Rs.20,000; (ii) For Unit Y of the Company Rs.20,000 and (iii) For Head Office Rs. 10,000. As per terms of appointment, B can collect his fees on progressive basis, on completion of audits of unit X and /or Y. B completed the audit of unit Y and recovered Rs.20,000 on account of the audit fees though the entire audit is not completed. Explain whether B is indebted to the Company for an amount exceeding Rs. 1,000 and therefore disqualified. (Or) Will an auditor who received the audit fees from the co. on progressive basis, is called indebted.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 01:09 PM My Price 5.00

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