Yash SaxenaYash Saxena asked 3 years ago
1 Answers
RaviRavi Staff answered 3 years ago

Hello Yash
First of all section uses word indebted instead of overdue, so for us due date is not relevant for this clause.
Now, yes we take net indebtedness. so we have to net of amount receivable and payable on accrued basis irrespective of nature of receivable or payable. it can involve audit fees receivable also.
so above interpretation is absolutely fine adjust audit fees receivable on accrued basis.

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