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....
When used with other audit procedures, external confirmations can be an effective audit tool in detecting fraud in accounts. In addition, to obtain sufficient appropriate audit evidence, debtor and creditor confirmations assist the auditor in discovering exceptions in the accounts.
Generic Internal Audit Checklist in excel format for ready reference of readers.
There are numerous reasons to analyze BRS prepared by an entity. One major reason why should an auditor has to be vigilant while performing BRS audit is discussed below. BRS is a statement prepared to reconcile or tally the balance shown in cash book of an entity with that of bank statement.
Due to amendment in Finance Act, 2016, applicability of Tax audit in cases where turnover is less than 1 crore and net profit less than 8%, tax audit will not be required to be conducted.
If an auditor of a company, in the course of the performance of his duties as auditor, has sufficient reason to believe that an offence involving fraud, is being or has been committed against/in the company by officers or employees of the company, he shall report the matter in the manner stated hereinafter.
The Central Government may, by notification, shall constitute a National Financial Reporting Authority / NFRA, an independent Regulator for auditors. (Section132). NFRA, a quasi – judicial regulator will replace the National Advisory Committee on Accounting Standards (Section 210A of the Companies Act, 1956).
Forensic Accounting is a relatively new profession that uses ideas and techniques started centuries ago. The profession has been molded and shaped by many aspects of the shifting world including the economy, society, and legislation.
In the commercial world, generally what we see is transactions occurring between two unrelated entities. Though, sometime transactions may occur between units of one legal entity (what has been referred to as ‘inter-unit / intercompany transactions’ in commercial sense).
An Auditor has evolved from traditional practices of checking the accuracy of the numbers, finding faults or detecting frauds to a wider concept called ‘Value addition to their Clients’.
To address the issue of cyber resilience, RBI vide circular dated December 9, 2016 had instructed all authorised entities / banks issuing PPIs in the country to: (i) Carry out a special audit by the empanelled auditors of Indian Computer Emergency Response Team (CERT-In) on a priority basis and take immediate steps thereafter to comply […]
