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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


How to manage enterprise’s financial risks, controls and audits efficiently

September 16, 2023 996 Views 0 comment Print

Discover effective strategies for managing an enterprise’s financial risks, controls, and audits. Learn the importance of identifying and mitigating financial risks, implementing robust internal controls, and conducting regular audits for transparency and accountability. Establish a comprehensive framework supported by strong leadership, clear policies, and competent professionals. Explore collaboration with external experts to enhance risk management and stay informed about emerging industry practices. Safeguard your financial health and ensure long-term stability through proactive financial governance.

BCAS asks for deferment of form 10B and 10BB

September 11, 2023 22416 Views 1 comment Print

Bombay Chartered Accountants Society requests a one-year deferment of Form 10B/10BB, citing challenges faced by charitable trusts in complying with the new audit requirements in India.

What is a Special Audit? Its Needs and Types

September 11, 2023 22542 Views 0 comment Print

Uncover the intricacies of Special Audits – focused examinations crucial for organizations. Explore the needs behind conducting them, and delve into various types such as Compliance, Construction, Internal, Cost, Fraud, and more. Understand how these audits address specific areas, ensuring financial transparency and legal compliance.

FEMA from the Auditor’s Perspective

September 4, 2023 4830 Views 0 comment Print

From an auditor’s perspective, the Federal Emergency Management Agency (FEMA) is a federal agency in the United States responsible for coordinating disaster response and providing financial assistance to state and local governments, as well as individuals and businesses, during and after natural or man-made disasters.

Balancing Progress: Cost of Modernization & Imperative of Environmental Audits

August 28, 2023 669 Views 0 comment Print

Explore the dual challenge of balancing the costs of modernization with the imperative of environmental sustainability. Learn how environmental audits play a crucial role in assessing and mitigating the environmental impact of financial decisions. Join the discussion on strategies for quantifying environmental costs, sustainable financing, risk management, and stakeholder engagement. Share your insights and contribute to the dialogue on shaping a future where financial progress aligns with responsible environmental stewardship.

Audit Trail: Regulatory Expectations & Best Practices

August 14, 2023 3489 Views 0 comment Print

Explore the importance of audit trails in corporate governance. Understand regulatory expectations, financial fraud cases, and best practices for compliance.

Public Private Partnerships (PPP) Audit: A Contribution To Societal Well-Being

July 19, 2023 1830 Views 0 comment Print

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Social Auditor Exam: Overview, Eligibility & Registration Process

July 18, 2023 27384 Views 0 comment Print

Discover Social Auditor Exam, its objectives, eligibility criteria, and registration process. Learn how social enterprises can raise funds through Social Stock Exchange platform.

Developing an Effective Overall Plan for Audit: Key Considerations & Steps

July 16, 2023 1482 Views 0 comment Print

The overall plan for an audit serves as a roadmap, providing direction and guidance for the audit process. It ensures that the auditor conducts a comprehensive and efficient examination of the client’s financial statements. This article explores the key considerations and steps involved in developing a robust overall plan for an audit.

Income Tax Assessment of Co-operative Societies

June 30, 2023 28656 Views 0 comment Print

Understand Income Tax Assessment for Co-operative Societies, covering definitions, computation of total income, deductions under Section 80P, rates for AY 2022-23, 2023-24, and the new Section 115 BAE introduced in AY 2024-25. Explore proposed benefits and recent tax reforms for cooperative societies.

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