Q. Non Corporate Entities not liable for audit as turnover < 1 Crores. Can we certify the Bal. sheet and P&L via report under SRS 4410(revised)

Question

Dear Sir

Proprietorship Concern / Partnership firm having turnover < 1 crore and they are not liable for audit under Income Tax.

Banks are insisting for CA Signature on the balance sheet and P & L as they have Bank OD facility.

Can we certify the Balance sheet and P&L by issuing report under SRS 4410(revised)

Answer 1

Its not about certification of financials, but what to certify in financials. Please see my short video on You Tube on the subject - https://youtu.be/SChj7pm_Xhg?si=B2NuGGlVLQVenktX

SRS 4410 is Compilation engagement, which can be done.