CA, CS, CMA : Learn how an auditor qualifies a report, the reasons behind it, and its impact on financial statements. This guide covers the requ...
CA, CS, CMA : Key points for auditors on Clause 34 of the Tax Audit Report, covering TDS/TCS compliance, statement furnishing requirements, and ...
Income Tax : Discover the highlights of the Form 3CD amendments effective April 1, 2025, including new clauses for cruise ships and MSMEs....
CA, CS, CMA : Explore the significance of SA 570 in financial audits, focusing on the going concern basis, auditor responsibilities, risk assess...
Income Tax : Recent changes in audit reports for charitable trusts and institutions in India. New requirements include disclosing contributors ...
Income Tax : Engage in shaping tax audit guidelines! Direct Taxes Committee invites public comments on the Exposure Draft for Guidance Note on ...
Income Tax : Know the challenges in Form 10B/10BB filings in 2023 and Income Tax Bar Association in Jalandhar appeal for deferment or extension...
Company Law : The National Financial Reporting Authority (NFRA) has published its audit quality inspection guidelines as a step towards furt...
Corporate Law : FRC imposed sanctions against PwC & Richard Hughes, Audit Engagement Partner in relation to statutory audit of financial statement...
Custom Duty : The Compliance Audit Report No. 17 of 2020 of the Comptroller and Auditor General of India on Department of Revenue - Customs and ...
Income Tax : In a case concerning Thenkumarai Primary Agricultural Cooperative Credit Society, Madras High Court's liberal interpretation of Se...
Income Tax : ITAT Chennai held that in the present case AO himself referred the matter for special audit u/s 142(2A), however, report of specia...
Income Tax : ITAT Amritsar held that non-filing of tax audit report due to technical glitch is the reasonable cause shown. Accordingly, penalty...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Income Tax : Condonation of delay in filing of Form no. 10B (audit report by trust/institution) for Assessment Years 2016-17 and 2017-18 by CBD...
Company Law : This Order may be called the Companies (Auditor's Report) Order, 2016. - Every report made by the auditor under section 143 of the...
ICAI is issuing the following revised formats of the statutory auditor’s report for urban cooperative banks (UCBs). These formats have been developed by the Board in consultation with the RBI and the same have also been accepted by the RBI.
During FY 2015-16, the ITD had completed 2.57 lakh scrutiny assessments in the units audited as per the audit plan of FY 2016-17, out of which we checked 2.39 lakh cases. Apart from this, we have also audited 0.30 lakh cases completed in the earlier financial years, during FY 2016-17.
Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013 issued by the Auditing and Assurance Standards Board
Internal auditor should try to draft a high quality report presenting his audit findings and recommendations in the best presentable form, so that timely and relevant information is delivered to key stakeholders.
1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. 3. Revised SA 705, Modifications to the Opinion in the Independent Auditor’s Report. 4. Revised SA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report.
The Auditing and Assurance Standards Board of ICAI has brought out Guidance Note on the Companies (Auditor’s Report) Order, 2016 for the benefit of the members. The Guidance Note was initially developed by three expert groups constituted by the Board for this purpose and thereafter finalised with the contribution of all the members of the Board and the Council.
This Order may be called the Companies (Auditor’s Report) Order, 2016. – Every report made by the auditor under section 143 of the Companies Act, 2013 on the accounts of every company audited by him, to which this Order applies, for the financial years commencing on or after 1st April, 2015, shall in addition, contain the matters specified in paragraphs 3 and 4, as may be applicable:
The high power committee of the Institute of Chartered Accountants of India (ICAI) on Wednesday submitted its interim report on the financial scam of Satyam Computer Services. ICAI said the report is interim in nature since restatement of accounts of Satyam is in progress and is expected to take another two months to complete. ICAI […]
