CA, CS, CMA : When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide expl...
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 : 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....
I. The Council of the Institute of Chartered Accountants of India, at its 329th Adjourned meeting, held on 03rd and 04th January, 2014 at New Delhi noted that the illustrative formats of the independent auditor’s report (in respect of a Company) as given in SA 700, SA 705 and SA 706 contain the references to “Profit and Loss Account” at various places. The term was being used since the Schedule VI to the Companies Act, 1956 also used this term.
The Council of the Institute, at its 329th (Adjourned) meeting held on 03rd and 04th January 2014 at New Delhi noted that reporting by the statutory auditors of the Company on clause (3)(bb) of section 227 of the Companies Act, 1956 is a legal requirement in cases where the company had appointed separate branch auditor/s.
The Council, accordingly, decided to amend paragraph 80 of the Statement on CARO, 2003 as follows: 80. There may be situations where one or more of the clauses are not applicable. For example, the requirement regarding internal audit system does not apply in case of all the companies.
The word concurrent itself defines its meaning, concurrent means happening at the time. Concurrent Audit means doing the examination of the financial transactions at the time of happening or parallel with the transaction. Most of the new articles who have been assigned to do the concurrent audit become terrified when they have to go to […]
In this computer era, all records of business enterprises are maintained in computers and voluntary compliance of return filing U/s 139 of Income-Tax Act are also sought in digital format. Return preparation utilities are provided by the Deptt. so that there may not be any instance of wrong claims or deduction, unless there is bug in the utility provided.
The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Union of India & Others on the powers of CAG to audit the revenues of Private Telecom Companies flowing to the Consolidated Fund of India
Hello Everyone!!!! As we all know Audit period has started and we all are busy in Auditing and Finalization work and this time we all have to prepare Audit Report in a Revised Format. In the recent times, there has been an increased focus on role of auditor due to some wrong and some ‘right’ reasons.
Service tax in India was bought into existence in the year 1994. Initially, only 3 services were bought into the net, with effect from 1st July 2012 the new system of taxation of services known as Negative list came into existence under this scheme apart from those services listed in the negative list are taxable.
Independent audit report is given to the shareholders of the company which is independent of the management. Audit Report is the communication to the shareholders by which an auditor expresses his opinion about the financial statement of the company audited by him. Audit report is an important aspect in the audit process. Auditor collects evidence […]
The new Service Tax regime has not only impacted the practicing professionals of service tax and business entities but it also impacted the professionals who are discharging audit function. Paragraph 4 (ix) (a) of Companies (Auditor’s Report) Order, 2003 requires an auditor to report, whether the company is regular in depositing undisputed statutory dues including […]
