Question ID :
40502
Net Worth Certificate based on provisional balance sheet
Dear All,
Can a practicing Chartered Accountant issue Net worth certificate to private limited company based on provisional financial statement ( here provisional financial statements are signed by CA with clear indication of same being compile based on information provided by the management)
Posted by
chetan jadhav
on
Dec 11, 2019
Filed Under
MISC.
I Think Netwoth certificate can sign without provisional financial statement are signed by other ca, because networth itself a certificate whereby signing person satisfy himself about credentials
Posted by
Vijay garg on
Dec 12, 2019
Answer ID :
80295
Certificates cast the responsibility to verify the facts and figures. It is a confirmation of correctness and accuracy about some matters. Certificate is based on actual figures and facts. Therefore, it is not appropriate to issue certificates on the basis of provisional financials. In addition, we cannot say that we have relied the provisional financials issued by another CA and we cannot mitigate our responsibility in this regard. It is only my opinion.
Posted by
CA PRADEEP C B on
Dec 13, 2019