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 : Understand foreign exchange audit: realized and unrealized gains/losses, accounting treatment, examples, and modern technology's r...
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....
Punjab National Bank invites applications from practising ‘Partnership firms of Chartered Accountants in India’ who fulfill eligibility criteria and are willing to have their Firms empanelled as Revenue Auditors in the Bank for conducting revenue audit of branches.
Fraud is not a recent phenomenon associated to some highly-publicized cases of financial fraud from the last two centuries. It can be found early in the history of our world as men have made use of tricks, manipulation, and deceit in order to acquire money, land, goods, or trust, with the overall objective of making profit.
Internal audits are conducted within a defined framework that lays down the boundaries and identifies, in a broad manner, how the internal audit activity is performed. This framework provides the required clarity on key components of the audit activity and helps aggregate all aspects of the internal audit process in a cohesive manner thereby ensuring standardization of key requirements governing internal audit assignments.
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited.
EXPOSURE DRAFT PREFACE TO THE FRAMEWORK AND STANDARDS ON INTERNAL AUDIT* (Last date for comments- January 17, 2018) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on proposed revision to the Preface to the Framework and Standards on Internal Audit. Comments are most helpful if they indicate […]
Cost of Quality (COQ) can be defined as Costs associated with quality-related efforts and deficiencies – these include assuring, preventing, detecting, and remediating product issues related to quality. Quality involves in creating, maintaining, upgrading and delivering a product having some standards that meets or exceeds the expectations of the customers.
Auditor shall design and perform audit procedures in such a way as to enable the auditor to obtain sufficient (quantity of audit evidence) and appropriate (quality of audit evidence) audit evidence to be able to draw reasonable conclusions on which to base the auditor’s opinion.
Reading the current headlines such as Sebi has directed the exchange to appoint an independent forensic auditor to verify any misrepresentation of financials and business of VDPL as well as any misuse of the funds or books of accounts’ and Sebi has directed the NSE to conduct forensic audit on two companies — ARSS Infrastructure Projects and Nu Tek India makes us question what forensic audit is all about.
In common parlance audit refers to the systematic examination and verification of the records, transactions, documents and physical inspection of the activities by qualified personnel.
Audit Audit denotes an examination or inspection of various books of accounts maintained by businesses. Audit under GST Laws The examination of records, returns & other documents maintained by the registered person; To verify the correctness of turnover declared, taxes paid, refund claimed & input tax credit availed; & To assess his compliance with the […]
