sec.30CAVerifying financial statements for entities that have total revenue of $150,000 to $500,000— Act , s 32

sec.30CA Verifying financial statements for entities that have total revenue of $150,000 to $500,000— Act , s 32

This section prescribes for section 32 (3) (c) of the Act the way for verifying a financial statement for an entity that has a total revenue of $150,000 to $500,000. The way prescribed is verification by an independent person having the qualifications or experience mentioned in section 30C (2) (a) to (e) who prepares and signs a statement that— the person has examined the entity’s financial records; and the entity’s financial records show the entity has adequate bookkeeping processes in place to record and explain transactions correctly to enable a true and fair financial statement to be prepared. In this section— independent person , for an entity, see section 30C (4) . s 30CA ins 2023 SL No. 59 s 17 (sec.30CA-ssec.1) This section prescribes for section 32 (3) (c) of the Act the way for verifying a financial statement for an entity that has a total revenue of $150,000 to $500,000. (sec.30CA-ssec.2) The way prescribed is verification by an independent person having the qualifications or experience mentioned in section 30C (2) (a) to (e) who prepares and signs a statement that— the person has examined the entity’s financial records; and the entity’s financial records show the entity has adequate bookkeeping processes in place to record and explain transactions correctly to enable a true and fair financial statement to be prepared. (sec.30CA-ssec.3) In this section— independent person , for an entity, see section 30C (4) .

• (a) the person has examined the entity’s financial records; and
• (b) the entity’s financial records show the entity has adequate bookkeeping processes in place to record and explain transactions correctly to enable a true and fair financial statement to be prepared.