64577569 An Internship Report on Chartered Accountant Firm

Topics: Auditing, Audit, Financial audit Pages: 59 (14344 words) Published: July 11, 2015
An Internship Report On Chartered Accountant Firm

TABLE OF CONTENTS

CHAPTER # 1     Introduction

     Some what about Chartered Accountant Firm
     Organizational Structure
     Geographical list of  CA firms in Pakistan
     CA firms abroad

Chapter # 2                 Institute of Chartered Accountants ofPakistan ( ICAP)

     Introduction
     Types of Chartered Accountants
     Role of  ICAP

Chapter # 3                 Services Rendered by a CA Firm

     Auditing
     Taxation
     Management Consultancy
     Professional consultancy
     Corporate Services

Chapter # 4                 Auditing

     Origin of Auditing
     History of Auditing in Pakistan
     Definition of Auditing
     Objects of Auditing
     Types of Auditing
     Auditing Procedure
     Audit Programme
     Duties and obligation of students and principels of CA firm      How to Conduct Audit
     Auditors Report

Chapter # 5                 Taxation

I     Introduction
II    Income tax

     Sources of income tax law
     Definition of income
     Definition of Tax
     Definition of Assesses
     Definition of Assessment
     Assessment year
     Income year
      Return of total income
     filing of return of income tax
     when to file return of total income
III   Sales tax

     Tax period
     Registration
      Record of Sales Tax
     Return of sales tax
     Responsibility of sales tax
     Turnover tax rules
     Rates of sales tax
     Services of CA firm related to Sales tax

Chapter # 6                 Consultancy Services

     Introduction
     Assistance of clients in Budgetary control system and profit forecasting      Assistance of client in compliance with corporate legislation.      Other services

Chapter # 7                 Corporate Sector Services

     Incorporation of Companies
     Methods of Business
     Sole Proprietorship
     Partnership
     Company
     Registration of the Company
     Availability
     Documents for registration in case of Non Profit concern      Foreign Company
     Post Incorporation services
Chapter # 1

Introduction

Some what about Chartered Accountant Firm.

A firm runs by one or more partners authorized by institute of chartered Accountant of Pakistan Ordinance 1961 to conduct internal and external audit of public and private limited companies, NGO’s and the other organization.

C.A firms provide tax, audit and advise on other legal matters to the financial aspect of the organization under the rule and regulation of the CA by laws of the International Accounting Standards.

The main aim behind the establishment of the institute of Chartered Accountant of Pakistan was to conduct the training of CA students and provided highly dedicated professionals though a process of conducting and passing specific examinations successful students were then admitted the members of the institute and after the fulfillment of certain conditions, eligible members were entitled to practice and were allowed to train CA students. With the passage of the time the institute ofChartered Accountant of Pakistan in playing its role as one of the most organized professional body of the country.

Ghafoor & Co was established as a Chartered Accountant Firm in 23rd April 1990.  This firm has provided useful services to the Govt, private department and other institutions. From his high talented he has produced a large number of clients.

Head office

The head office of Ghafoor & Co is Opp: GPO Rehmat Lane, sadder Road, Peshawar Cantt.

The principal of this Chartered Accountant firm is Abdul Ghafoor. At present time Ghafoor & Co constitute 15 staff members out of which 9 are the students of this firm and remain are the staff. Mr. Asif Bukhari is office manager; Mr. Atta Mohammad is Audit manager.

ORGANIZATIONAL STRUCTURE

At present the...
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