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When a Stock Audit Looks Too Good to Be True: Fraud Triangle in a such Audit

CA, CS, CMA : The article explains how unusually flawless records may signal a managed presentation rather than genuine business performance, re...

June 8, 2026 567 Views 0 comment Print

Impact on Stock Audit Engagements for Related-Party Debtors & Creditors

CA, CS, CMA : Focusing only on receivables can miss significant risks embedded in related-party payables. A bilateral review reveals internal gr...

June 5, 2026 198 Views 0 comment Print

The Do’s and Don’ts of Stock and Receivables Audits

CA, CS, CMA : This comprehensive checklist covers every stage of a stock and receivables audit, from engagement acceptance to final reporting. I...

June 1, 2026 339 Views 0 comment Print

Why Stock Auditors Must Check Licence Validity Alongside Inventory?

CA, CS, CMA : A perfect stock valuation can still conceal serious lending risks if critical operating licences have expired. Auditors should ver...

May 29, 2026 387 Views 0 comment Print

25 Real-Life Stock Audit Dilemmas Every Banker and Auditor Faces

CA, CS, CMA : The article highlights practical dilemmas faced during stock audits by borrowers, auditors, and bankers. It explains how professio...

May 27, 2026 495 Views 2 comments Print


Latest News


Webinar on Budget 2025 – In-depth Analysis of Income Tax Amendments

Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...

January 31, 2025 17931 Views 1 comment Print

Surrogate Audit Work by Multinational Companies in India

Company Law : Multinational companies cannot conduct surrogate audit work in India under Chartered Accountants Act, 1949 and Companies Act, 2013...

December 6, 2024 861 Views 0 comment Print

Expert Panel for Addressing queries related to Statutory Audit

CA, CS, CMA : Get expert support on auditing aspects for statutory audits. ICAIs Auditing and Assurance Standards Board (AASB) forms an expert p...

April 11, 2024 2274 Views 0 comment Print

Audit Plays Catalytic Role in Promoting Efficiency and Effectiveness: CAG

CA, CS, CMA : Discover the catalytic role of audit in enhancing efficiency and effectiveness, as emphasized by the Comptroller and Auditor Gener...

March 19, 2024 498 Views 0 comment Print

Exposure Draft SA 230 Audit Documentation

CA, CS, CMA : Explore the essential aspects of audit documentation, its nature, purposes, and compliance requirements. Learn best practices for ...

November 24, 2023 3303 Views 0 comment Print


Latest Judiciary


CAG cannot carry compulsory service tax audit of private agencies after GST

Service Tax : The High Court in this regard stayed CAG audit of a private limited company providing warehouse and logistical support services in...

October 17, 2020 2298 Views 0 comment Print

Gujarat High Court stays Service Tax Audit under Rule 5A by CAG

Service Tax : Gujarat High Court granted stay on conducting audit of records of taxpayers under 5A of Service Tax Rules, 1994, by Officers of C&...

October 18, 2018 8766 Views 1 comment Print

CAG can audit Pvt. Companies if Govt Revenue is in question

Finance : The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Uni...

January 7, 2014 6562 Views 0 comment Print

Surplus arising to a partner from transaction of contribution of land held by it to a firm as capital contribution shall be taxable u/s 45

Income Tax : and contributed by the assessee to a firm towards capital contribution should be treated as stock in trade even during the course ...

January 24, 2010 2972 Views 0 comment Print

Deductibility of premium on forward contracts in the year of entering into such contracts

Income Tax : The Delhi High Court (HC) [2010-TIOL­42-HC-DEL-IT] in the case of CIT v. Industrial Finance Corporation of India (Taxpayer) which...

January 21, 2010 6041 Views 0 comment Print


Latest Notifications


Penalty Imposed for Delay in Forming Audit Committee & Appointing Independent Directors

Company Law : The ROC Ahmedabad penalized the company and its director for failing to appoint independent directors and constitute an audit comm...

November 13, 2025 747 Views 0 comment Print

Framework for conducting Joint Audit by CGST and SGST officers

Goods and Services Tax : Learn about the latest directive from the Ministry of Finance regarding joint audits by CGST and SGST officers. Understand the fra...

April 3, 2024 2259 Views 0 comment Print

NFRA Circular on Statutory Auditors’ Responsibilities in Reporting Fraud in a Company

Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...

June 26, 2023 12459 Views 0 comment Print

Regulations on Audit and Accounts (Amendments) 2020

CA, CS, CMA : (1) These Regulations may be called Regulations on Audit and Accounts (Amendments) 2020 (2) They shall come into force on the date...

August 20, 2020 11619 Views 0 comment Print

Practising CS can do Third Party Certification Audits in Haryana

CA, CS, CMA : Labour Department, Government of Haryana vide its Notification No. 11/38/2016-4Lab dated 10th August, 2016 formulated Third Party ...

September 9, 2016 7261 Views 0 comment Print


Audit Planning, Strategy and Execution: Best Practices & Key Considerations

July 19, 2024 1524 Views 0 comment Print

When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide explains the important parts of planning an audit, coming up with a strategy, and carrying out the audit, focusing on the best ways to do it and important things to think about.

Auditing Hotel Industry: Laws, Revenue, Expenses & Compliance

July 4, 2024 5811 Views 0 comment Print

Comprehensive guide on auditing the hotel industry covering applicable laws, revenue generation, expenses, and compliance requirements for effective management.

SA 706 (Revised): Emphasis of Matter & Other Matter Paragraphs in Auditor’s Report

June 22, 2024 32568 Views 0 comment Print

Learn about SA 706 (Revised) and its guidelines on Emphasis of Matter and Other Matter paragraphs in auditor reports, enhancing clarity and transparency in auditing.

Audit Manual for Small & Medium Enterprises (SME) for Financial Year 2023-24

June 13, 2024 26268 Views 2 comments Print

Discover the essential 2023-24 Audit Manual for SMEs. Stay updated with changes in CARO 2020, Schedule III, and more. Download editable formats now!

Audit Requirements & Criterion for Business & Profession (Section 44AB) Assessment Year 2024-24

June 7, 2024 220551 Views 2 comments Print

Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including turnover and presumptive taxation rules.

Expert Panel for Addressing queries related to Statutory Audit

April 11, 2024 2274 Views 0 comment Print

Get expert support on auditing aspects for statutory audits. ICAIs Auditing and Assurance Standards Board (AASB) forms an expert panel to enhance audit quality. Submit queries now

Audit of Foreign Exchange Transactions

April 11, 2024 11676 Views 0 comment Print

Understand foreign exchange audit: realized and unrealized gains/losses, accounting treatment, examples, and modern technology’s role in accurate accounting

Framework for conducting Joint Audit by CGST and SGST officers

April 3, 2024 2259 Views 0 comment Print

Learn about the latest directive from the Ministry of Finance regarding joint audits by CGST and SGST officers. Understand the framework, its significance, and how it strengthens compliance efforts.

Audit Plays Catalytic Role in Promoting Efficiency and Effectiveness: CAG

March 19, 2024 498 Views 0 comment Print

Discover the catalytic role of audit in enhancing efficiency and effectiveness, as emphasized by the Comptroller and Auditor General of India at SRCC Business Conclave.

Audit Documentation in Bank Branch Audit

February 23, 2024 3288 Views 0 comment Print

Master audit documentation with our guide for bank branch audits. Learn compliance with SA 230, preparation, real-time documentation, and ensuring audit integrity.

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