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Audit

Latest Articles


Auditing Hotel Industry: Laws, Revenue, Expenses & Compliance

CA, CS, CMA : Comprehensive guide on auditing the hotel industry covering applicable laws, revenue generation, expenses, and compliance requirem...

July 4, 2024 1209 Views 0 comment Print

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

CA, CS, CMA : Learn about SA 706 (Revised) and its guidelines on Emphasis of Matter and Other Matter paragraphs in auditor reports, enhancing cl...

June 22, 2024 2757 Views 0 comment Print

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

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...

June 13, 2024 6810 Views 0 comment Print

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

Income Tax : Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including...

June 7, 2024 41241 Views 0 comment Print

Audit of Foreign Exchange Transactions

CA, CS, CMA : Understand foreign exchange audit: realized and unrealized gains/losses, accounting treatment, examples, and modern technology's r...

April 11, 2024 6294 Views 0 comment Print


Latest News


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 1665 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 195 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 1710 Views 0 comment Print

Exposure Draft of SA 300: Planning an Audit of Financial Statements

CA, CS, CMA : Explore the significance of Standard on Auditing 300 in planning and executing financial statement audits. Learn the requirements,...

November 24, 2023 2154 Views 0 comment Print

Draft Standard on Auditing 210 Agreeing the Terms of Audit Engagements

CA, CS, CMA : Explore the importance of agreeing audit engagement terms, preconditions, responsibilities, and legal considerations. Learn from t...

November 24, 2023 1053 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 1923 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 8340 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 6154 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 2639 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 5600 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 1350 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 10326 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 10386 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 7027 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 3382 Views 0 comment Print


Word Audit losing its meaning and what it means to an Auditor?

November 16, 2018 13332 Views 6 comments Print

What is Audit? This is not a model question for a CA IPCC/Intermediate exam! Perhaps this may not be asked for examinations. That does not mean that we do not need an answer.

Empanelment for Concurrent Audit of National Insurance Company Ltd.

October 31, 2018 3636 Views 0 comment Print

Tender Document For Selection Of CA Firm For Concurrent Audit Of Investment Operations Of Empanelment for Concurrent Audit of National Insurance Company Ltd.

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

October 18, 2018 8340 Views 1 comment Print

Gujarat High Court granted stay on conducting audit of records of taxpayers under 5A of Service Tax Rules, 1994, by Officers of C&AG who were sending communications through CGST officers.

Forensic Audit: Field to Explore

October 16, 2018 1875 Views 0 comment Print

Everyone reading this article would have obviously heard of Forensic Audit. And there is nothing surprising to that, as this word ‘Forensic Audit’ has become so familiar now these days, and special credit for this goes to Mr.Nirav Modi and Mr.Vijay Mallya and a huge pile of NPA’s build up by our state-owned banks. 1. […]

Blockchain Technology

October 9, 2018 3483 Views 3 comments Print

CA. Ankit Danawala Toolkit for future Finance Professionals, Accountants and Auditors “We stand on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another. In its scale, scope and complexity, the transformation will be unlike anything humankind has experienced before.” – by Klaus Schwab INTRODUCTION […]

Implementation Guide to Standard on Auditing (SA) 610 (Revised)

August 27, 2018 1467 Views 0 comment Print

Implementation Guide to Standard on Auditing (SA) 610 (Revised)- Using the Work of Internal Auditors Standards on Auditing issued by the Institute of Chartered Accountants of India lay down the fundamental principles of relevant aspects of audit to be followed by auditors in their audit engagements. It is essential that auditors understand and implement these […]

Auditors Resignations Raises Critical Eyebrow

August 19, 2018 30975 Views 1 comment Print

The resignation of an auditor can be a critical and highly exposed event with serious implications for the company and the auditors themselves. Resignation, particularly in debatable circumstances, can expose auditors to various risks, including the risk of litigation from creditors, investors and the company. Although auditors’ resignations have attracted substantial regulators attention in recent […]

GHOST EMPLOYEES – Forensic into payroll

August 13, 2018 16065 Views 1 comment Print

Now a day’s accounting frauds are on rise to be reported related to Payroll in which a FRAUDSTER manages to create some employees master file which actually do not exists and manage to take away their all benefits by way of FRAUD.

Audit of Banks- RBI issued guideline for Audit and Auditor appointment

August 8, 2018 17565 Views 0 comment Print

With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and selection as well as the procedure for appointment of such auditors. In case of […]

Forensic Audit – ROBBERY / THEFT Using Facebook Information

August 8, 2018 3180 Views 5 comments Print

Now a days, using social media sites like Facebook, twitter or some other similar web portals become an integral part for updating our lives within friends and or relatives. Whatever we do, wherever we go, whatever we buy or intended to buy all goes at public domain and it is very easy to find out […]

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