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....
Concurrent Audit is an examination that is simultaneous with the happening of business transactions or is conceded out as near thereto as achievable. It’s an attempt by an independent person to shorten the interval between the occurrence of a transaction and its examination not involved in its documentation
A chartered accountant is mandated to conduct statutory and other audit of banking industries. This is in compliance of various statutes applicable to audits, there are kind of audits and there are many ways to appoint the auditors for the Banking Sector.
With the changing market scenario, now the Risk Management becomes the essential area for management to look it into and now this role is being diverted to the Committee with name Risk Management Committee.
CA V. Sathyanarayanan 1. Whether credit claimed on capital goods falls within the definition of Rule 2(a) of Cenvat Credit Rules, 2004 (CCR). 2. Whether credit claimed on inputs falls within the definition of Rule 2(k) of CCR 3. Whether credit claimed on input services falls within the definition of Rule 2(l) of CCR. 4. […]
Department of Financial Services. Ministry of Finance. Government of India vide their letter NO’. F.No.1/14/2004-BOA dated November 25, 2014 has advised us that Government has decided that the work of selection and appointment of Statutory Central Auditors (SCAs) is delegated to individual Public Sector Banks (PSBs) for the year 2014-15 and onwards.
The concept of Bait Money! Bait Money is a security feature used by various Banks/Bank branches. As its name suggests, this money kept with the Banks/Bank branches helps in tracking the culprits in case of any theft provided it has been taken by the thieves. Bait Money is basically a small pile of currency notes, […]
Listed company or all unlisted public companies having paid up share capital of Rs. 10 crore or more, all private limited companies having paid up share capital of Rs. 20 crore or more, all companies having public borrowings from financial institutions, banks or public deposits of Rs. 50 fifty crores or more shall not appoint or re-appoint an individual as auditor for more than one term of 5 consecutive Years
We all know that in addition to the Management, companies also need a governance framework primarily with a view to preserving the shareholder value. There are some major landmarks that defined the role of Audit Committees in augmenting the Governance aspects in companies.
Dear Professional colleagues, Concurrent Audit of Banks are fast gaining significance in the wake of increase in Non-Performing Assets (NPA) and other irregularities which have surfaced in the recent past. Concurrent Audit is primarily a risk mitigation method wherein various Banking functions are Audited in detail in order to unearth any potential or an on-going […]
We have given below Format of the Independent Auditor’s Report on Standalone Financial Statements under the Companies Act, 2013 As Applicable from Financial Year 2014-15.
