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Audit

Latest Articles


Auditing Fundamentals: Internal, Statutory & Operational Checks

CA, CS, CMA : Explore auditing essentials covering internal and statutory audits, detailed checks for cash, bank, purchases, sales, inventory, a...

May 29, 2025 744 Views 0 comment Print

Joint Audit as a Tool to Enhance Audit Quality

Company Law : joint audit involves two or more audit firms working together to issue an audit opinion on the financial statements of an organiza...

March 19, 2025 1206 Views 0 comment Print

Top 10 Reasons for Audit Committee Underperformance

CA, CS, CMA : Factors like poor composition, weak leadership, limited meetings, and ineffective audits contribute to the underperformance of Aud...

February 27, 2025 447 Views 0 comment Print

Fraud Indicators in PSU and Government Contracts Audit

CA, CS, CMA : Explore fraud indicators in PSU and Government contract audits, including billing fraud, bribery, kickbacks, change order abuse, c...

January 14, 2025 1074 Views 0 comment Print

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

CA, CS, CMA : When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide expl...

July 19, 2024 804 Views 0 comment 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 17160 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 450 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 1857 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 276 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 2286 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 2031 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 8430 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 6232 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 2765 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 5744 Views 0 comment Print


Latest Notifications


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 1575 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 11226 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 10602 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 7057 Views 0 comment Print

RBI issues revised guideline on Concurrent Audit System in Commercial Banks

Fema / RBI : As you are aware, guidelines on 'concurrent audit system in commercial banks' were issued by us vide our circular DOS.No.BC.16/08....

July 16, 2015 3691 Views 0 comment Print


Latest Posts in Audit

Auditing Fundamentals: Internal, Statutory & Operational Checks

May 29, 2025 744 Views 0 comment Print

Explore auditing essentials covering internal and statutory audits, detailed checks for cash, bank, purchases, sales, inventory, and ledger management for compliance and fraud prevention.

Joint Audit as a Tool to Enhance Audit Quality

March 19, 2025 1206 Views 0 comment Print

joint audit involves two or more audit firms working together to issue an audit opinion on the financial statements of an organization. Joint audit as a concept is not limited to statutory audits but can be effectively used in internal audits as well although not very popular.

Top 10 Reasons for Audit Committee Underperformance

February 27, 2025 447 Views 0 comment Print

Factors like poor composition, weak leadership, limited meetings, and ineffective audits contribute to the underperformance of Audit Committees.

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

January 31, 2025 17160 Views 1 comment Print

Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he breaks down the key direct tax amendments proposed in the Union Budget 2025.

Fraud Indicators in PSU and Government Contracts Audit

January 14, 2025 1074 Views 0 comment Print

Explore fraud indicators in PSU and Government contract audits, including billing fraud, bribery, kickbacks, change order abuse, check tampering, and conflicts of interest.

Surrogate Audit Work by Multinational Companies in India

December 6, 2024 450 Views 0 comment Print

Multinational companies cannot conduct surrogate audit work in India under Chartered Accountants Act, 1949 and Companies Act, 2013. No reviews have been conducted.

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

July 19, 2024 804 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 3531 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 13428 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 23496 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!

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