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Focusing only on receivables can miss significant risks embedded in related-party payables. A bilateral review reveals internal group funding structures, offsetting balances, and potential drawing power distortions....

The Court held that shares acquired in a buy-back are mandatorily extinguished under company law and therefore cannot be treated as property received by the company. Section 56(2)(x) was found inapplicable to such transactions....

A comprehensive review of significant developments across Income Tax, GST, Customs, DGFT, SEBI, MCA, IBBI, and RBI. The update highlights important judicial decisions and regulatory changes issued during 25–31 May 2026....

This comprehensive checklist covers every stage of a stock and receivables audit, from engagement acceptance to final reporting. It helps auditors avoid common mistakes and improve audit quality through practical guidance....

The standards explain how written representations and external confirmations help auditors obtain reliable evidence and support audit conclusions....

The article explains how newly qualified CAs can improve placement prospects through campus registration, resume optimization, networking, and interview preparation. The key takeaway is that proactive action significantly improves job opportunities....

The article examines the critical role advocates play in safeguarding constitutional rights and ensuring access to justice. It argues that stronger welfare and institutional support for advocates is vital for preserving democracy and the rule of law....

The article examines whether the Income Tax Amendment Bill, 2026 expanded CMA authority to bank audits. It clarifies that while CMAs gained a larger role in tax-related work, statutory and concurrent bank audits remain reserved for Chartered Accountants....

A perfect stock valuation can still conceal serious lending risks if critical operating licences have expired. Auditors should verify licence validity to identify threats to a bank’s security....

The article highlights practical dilemmas faced during stock audits by borrowers, auditors, and bankers. It explains how professional judgment, ethical concerns, and commercial realities often create situations with no perfect solution....