Explore comprehensive audit procedures for authenticating accruals and provisions. From examining supporting documents to legal inquiries, these illustrative examples ensure financial statement accuracy.
Explore detailed audit procedures to verify bank reconciliations, ensuring financial records’ accuracy. From confirming outstanding checks to assessing timing differences, this guide provides illustrative examples for a robust audit process.
Explore essential audit procedures for verifying subsequent events. From legal confirmations to reviewing financial transactions, these detailed examples guide auditors in ensuring accurate and timely financial statements.
Explore comprehensive audit procedures to authenticate estimates during the audit process. From understanding the estimation process to engaging external experts, fortify assurance on financial statements with practical examples and industry benchmarks.
Discover essential audit procedures to authenticate legal expenses, safeguarding financial statements’ integrity. From supporting documentation to external confirmations, gain insights into accurate accruals and provisions.
Verifying payroll expenses is a pivotal element in the audit process for firms. Robust audit procedures are essential to ensure the accuracy and completeness of payroll expenses, safeguarding the integrity of financial statements.
The impact of Information Technology (IT) on several aspects of accounting profession and practice has been pronounced over the last two decades. The revolutionary developments of various IT tools and techniques have a far reaching impact on the organizations. In today’s business world, accounting professionals have to interact with computer-based Information systems on a regular […]
Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the responsible person is supposed to deduct a certain percentage of income as tax before making the payment to the receiver. The payment includes salary, commission, professional fees, interest, rent, etc. To provide more funds at […]
Matching & Reconciliation under GST Following Mismatches can be noticed by taking up following Matching and Reconciliation exercises: -Differences between the amount of credit shown in GSTR- 3B and the GSTR 2A or/and -Discrepancies between GSTR-3B and GSTR-1 or/and -Differences in the provisional credit claimed and actual credit that is claimable. This situation arises usually […]
ICAI has announced ‘Client KYC Norms’ mandatory w.e.f. 1 Jan. 2017 for compliance by ‘Members in Practice’ The ICAI has announced ‘Client KYC Norms’ mandatory w.e.f. 1 Jan. 2017 for compliance by ‘Members in Practice’ for maintaining requisite documentation/ information about the Clients. These norms shall apply in all assignments pertaining to attest functions, i.e. […]
