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Stock & Receivables Audit: A Beginner’s Guide to Indian Banking Audits

CA, CS, CMA : Learn how banks use stock and receivables audits to independently verify inventory and debtors before allowing working capital wit...

May 22, 2026 168 Views 0 comment Print

Insurance Coverage of Hypothecated Stock: Key Checks for Stock Auditors

CA, CS, CMA : The article explains how inadequate insurance coverage of hypothecated stock can expose banks to major financial losses despite va...

May 21, 2026 171 Views 0 comment Print

Why Stock Statements and Audited Financials Never Match in Stock Audits?

CA, CS, CMA : Differences between audited balance sheets and stock statements can significantly impact drawing power calculations. This article ...

May 20, 2026 588 Views 0 comment Print

Audit Committees – The Conscience Keeper

CA, CS, CMA : The Audit Committee ensures oversight of audits, controls, and compliance beyond financial reporting. Its effectiveness depends on...

April 14, 2026 414 Views 0 comment Print

Materiality in Auditing: Meaning, Benchmarks & Practical Use

CA, CS, CMA : This explains what materiality means in an audit and why it matters for financial decision-making. The key takeaway is that materi...

January 6, 2026 2616 Views 2 comments Print


Latest News


Webinar on Budget 2025 – In-depth Analysis of Income Tax Amendments

Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...

January 31, 2025 17910 Views 1 comment Print

Surrogate Audit Work by Multinational Companies in India

Company Law : Multinational companies cannot conduct surrogate audit work in India under Chartered Accountants Act, 1949 and Companies Act, 2013...

December 6, 2024 846 Views 0 comment Print

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 2241 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 471 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 2967 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 2274 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 8733 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 6538 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 2942 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 6020 Views 0 comment Print


Latest Notifications


Penalty Imposed for Delay in Forming Audit Committee & Appointing Independent Directors

Company Law : The ROC Ahmedabad penalized the company and its director for failing to appoint independent directors and constitute an audit comm...

November 13, 2025 726 Views 0 comment Print

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 2226 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 12390 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 11547 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 7261 Views 0 comment Print


Top 10 Reasons for Audit Committee Underperformance

February 27, 2025 738 Views 0 comment Print

Factors like poor composition, weak leadership, limited meetings, and ineffective audits contribute to the underperformance of Audit Committees.

Webinar on Budget 2025 – In-depth Analysis of Income Tax Amendments

January 31, 2025 17910 Views 1 comment Print

Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he breaks down the key direct tax amendments proposed in the Union Budget 2025.

Fraud Indicators in PSU and Government Contracts Audit

January 14, 2025 2037 Views 0 comment Print

Explore fraud indicators in PSU and Government contract audits, including billing fraud, bribery, kickbacks, change order abuse, check tampering, and conflicts of interest.

Surrogate Audit Work by Multinational Companies in India

December 6, 2024 846 Views 0 comment Print

Multinational companies cannot conduct surrogate audit work in India under Chartered Accountants Act, 1949 and Companies Act, 2013. No reviews have been conducted.

Audit Planning, Strategy and Execution: Best Practices & Key Considerations

July 19, 2024 1494 Views 0 comment Print

When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide explains the important parts of planning an audit, coming up with a strategy, and carrying out the audit, focusing on the best ways to do it and important things to think about.

Auditing Hotel Industry: Laws, Revenue, Expenses & Compliance

July 4, 2024 5715 Views 0 comment Print

Comprehensive guide on auditing the hotel industry covering applicable laws, revenue generation, expenses, and compliance requirements for effective management.

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

June 22, 2024 31854 Views 0 comment Print

Learn about SA 706 (Revised) and its guidelines on Emphasis of Matter and Other Matter paragraphs in auditor reports, enhancing clarity and transparency in auditing.

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

June 13, 2024 26109 Views 2 comments Print

Discover the essential 2023-24 Audit Manual for SMEs. Stay updated with changes in CARO 2020, Schedule III, and more. Download editable formats now!

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

June 7, 2024 219882 Views 2 comments Print

Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including turnover and presumptive taxation rules.

Expert Panel for Addressing queries related to Statutory Audit

April 11, 2024 2241 Views 0 comment Print

Get expert support on auditing aspects for statutory audits. ICAIs Auditing and Assurance Standards Board (AASB) forms an expert panel to enhance audit quality. Submit queries now

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