CA, CS, CMA : When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide expl...
CA, CS, CMA : Comprehensive guide on auditing the hotel industry covering applicable laws, revenue generation, expenses, and compliance requirem...
CA, CS, CMA : Learn about SA 706 (Revised) and its guidelines on Emphasis of Matter and Other Matter paragraphs in auditor reports, enhancing cl...
CA, CS, CMA : Discover the essential 2023-24 Audit Manual for SMEs. Stay updated with changes in CARO 2020, Schedule III, and more. Download edi...
Income Tax : Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including...
CA, CS, CMA : Get expert support on auditing aspects for statutory audits. ICAIs Auditing and Assurance Standards Board (AASB) forms an expert p...
CA, CS, CMA : Discover the catalytic role of audit in enhancing efficiency and effectiveness, as emphasized by the Comptroller and Auditor Gener...
CA, CS, CMA : Explore the essential aspects of audit documentation, its nature, purposes, and compliance requirements. Learn best practices for ...
CA, CS, CMA : Explore the significance of Standard on Auditing 300 in planning and executing financial statement audits. Learn the requirements,...
CA, CS, CMA : Explore the importance of agreeing audit engagement terms, preconditions, responsibilities, and legal considerations. Learn from t...
Service Tax : The High Court in this regard stayed CAG audit of a private limited company providing warehouse and logistical support services in...
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&...
Finance : The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Uni...
Income Tax : and contributed by the assessee to a firm towards capital contribution should be treated as stock in trade even during the course ...
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...
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...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
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...
CA, CS, CMA : Labour Department, Government of Haryana vide its Notification No. 11/38/2016-4Lab dated 10th August, 2016 formulated Third Party ...
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....
Overview to e-Auditing & Methodology – COVID 19 and Lockdown– This article talks about how to grab an opportunity to learn and apply new learning during this lockdown. Cloud Audit is basically about Online Financial Audits with the help of Information Technology resources available. If banking operations can be commenced at any branch, If online […]
This Article talks about the overview for conducting audit as per Code of Federal Regulations CFR, standards for obtaining consistency and uniformity for the audit of Indian Government and Non-Government social bodies which are granted Aids by Government and Non-Government US agencies. In context to audits for projects executed by Healthcare and Hospital ‘s related […]
Anuranjan Sahni* Impact of Corona Virus (COVID-19) on Audit of Financial Statements for the Financial Year ending March 31, 2020 Background The global pandemic COVID-19 has already had a significant impact on global trade and economy with consequential impact on global and Indian financial markets. This may also have accounting, disclosure, internal control and auditing […]
The global financial authorities are already shaken by the implications of the spread of COVID-19 on a world scale. It is highly unlikely to state when the current situation will pass and the economy will come right back on the tracks. It seems very justified to state that the pandemic which originated far away from […]
Background: Quality control is applied to achieve company’s vision to be a distinguished company. By maintaining a standard quality of packing bags often termed as PP Bags, the company can increase its brand in the market. Further, certain industries such as Cement industries are regulated by BIS (Bureau of Indian Standards) norms. The company has […]
Auditor’s are expected to provide an unbiased and objective opinion on the facts they have examined. Boards and shareholders expect that the Auditor’s opinion must be near precise, however, auditing standards prescribe that auditor’s opinion is reasonable and not absolute as the auditors are never able to scrutinize all accounting and business transactions on a 100% basis. This expectation gap seems to be never narrowing down.
Article explains What is a Legal Audit, Procedure of Legal Audit, Is Legal Audit Mandatory, Legal Audit vs Tax Audit, Company Audit and Financial Audit and Significance of Legal Audit. What is a Legal Audit? The word legal audit is made from two words ‘legal’ and ‘audit’. Legal audit is the process of verification of the documents […]
Inventory is one of the important area for any business where chances of fraud are more as it’s a department where thefts and damages occur. Having strong controls, proper processes, checklist and regular stock audit is essential for this function. In this article we would learn the basic check points which needs to be checked […]
GUIDANCE NOTES ON ICSI AUDITING STANDARDS ICSI Auditing Standards aims to support the Company Secretaries in developing auditing acumen, techniques and tools and inculcate best auditing practices while conducting the audit and promote standardisation and uniformity in the professional arena. The Institute of Company Secretaries of India has issued the first four Auditing Standards, i.e […]
ICSI has issued the first four Auditing Standards which are mandatorily applicable to the auditor on or after 1st April, 2020. The first three Standards will be applicable to all kinds of audit engagements and the fourth one will specifically be applicable for the Secretarial Audit under section 204 of the Companies Act, 2013.
