CA, CS, CMA : Learn how banks use stock and receivables audits to independently verify inventory and debtors before allowing working capital wit...
CA, CS, CMA : The article explains how inadequate insurance coverage of hypothecated stock can expose banks to major financial losses despite va...
CA, CS, CMA : Differences between audited balance sheets and stock statements can significantly impact drawing power calculations. This article ...
CA, CS, CMA : The Audit Committee ensures oversight of audits, controls, and compliance beyond financial reporting. Its effectiveness depends on...
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...
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...
Company Law : Multinational companies cannot conduct surrogate audit work in India under Chartered Accountants Act, 1949 and Companies Act, 2013...
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 ...
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...
Company Law : The ROC Ahmedabad penalized the company and its director for failing to appoint independent directors and constitute an audit comm...
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 ...
The Institute of Chartered Accountants of India (ICAI), the body that regulates the profession of chartered accountancy in the country, plans to set up a board to randomly scan the audit reports of banks, financial institutions and state-owned enterprises to avoid Satyam-like episode. ICAI president Uttam Prakash Agarwal said the new board, to be called […]
ICAI – A brief report on the meeting with the officials of Central Bureau of Investigation held at CBI Headquarter, New Delhi Pursuant to initiatives taken by the Professional Development Committee of the Institute of Chartered Accountants of India, the Central Bureau of Investigation has shown keen interest in the diverse role performed by Chartered […]
In order to prevent a Satyam like accounting fraud in state-run companies, the Comptroller and Auditior General of India (CAG) has decided to conduct three-phase audit of 80 PSUs including blue chip entities like Indian Oil, ONGC and Steel Authority. “A three-phased audit system for about 80 companies for the accounting year 2008-09 has been […]
It’s a measure of efficiency & governance : Kunal Banerjee President, ICWAI Corporate governance has taken centre-stage in all business models since the Enron debacle. But recent happenings have shown that a governance structure should also support an organisation’s efforts to improve performance. There is a need to move from compliance governance to business governance. […]
The ministry of company affairs has begun a comprehensive review of the legal provisions and regulations governing chartered accountants following the Satyam accounting fraud that covers, among other issues, the operation of surrogate firms in India by large foreign audit firms. Sources close to the development said a notification to this effect will be released […]
Dear CA Pariwar, I feel privileged to assume the highest office as the 57th President of one of the largest bodies of accountants in the world. I thank the Council Members for bestowing this honour on me and for reposing their trust in me. This post has been held by many distinguished and able luminaries […]
THE SALES TAX OFFICE HAS OPENED A SEPARATE DESK FOR ACCEPTING THE MVAT AUDIT REPORT (FORM 704). 1.THE MVAT AUDIT REPORT CAN ALSO BE SUBMITTED ON 28TH FEBRUARY & 1ST MARCH 2009. 2.ON ABOVE DATES THE SALES TAX OFFICE IN THE STATE OF MAHARASHTRA WILL BE REMAIN OPEN DURING REGULAR OFFICE HOURS FOR ACCEPTING MVAT […]
Accounting regulator ICAI has asked the auditors of Maytas Properties and Maytas Infra to reply to the notices sent to them by the body within 30 days. The Institute of Chartered Accountants of India (ICAI) sent them notices after the Government moved the Company Law Board to supersede the boards of these companies on charges […]
On paper, this tech park had 37 units functioning on its premises — all entitled to income tax concessions. What they turned out to be were nothing less than maintenance rooms located in the car park! And the tech park owner stashed away Rs 75.8 crore that he had claimed as tax concessions for three […]
Serious Fraud Investigation Office has invited applications from Chartered Accountants empanelled with the office of C&AG and who may like to be associated with SFIO for carrying out forensic examination of records of companies ordered for investigation by the government.
