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Audit

Latest Articles


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

CA, CS, CMA : When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide expl...

July 19, 2024 426 Views 0 comment Print

Auditing Hotel Industry: Laws, Revenue, Expenses & Compliance

CA, CS, CMA : Comprehensive guide on auditing the hotel industry covering applicable laws, revenue generation, expenses, and compliance requirem...

July 4, 2024 1335 Views 0 comment Print

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

CA, CS, CMA : Learn about SA 706 (Revised) and its guidelines on Emphasis of Matter and Other Matter paragraphs in auditor reports, enhancing cl...

June 22, 2024 3210 Views 0 comment Print

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

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...

June 13, 2024 8769 Views 0 comment Print

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

Income Tax : Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including...

June 7, 2024 65238 Views 0 comment Print


Latest News


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 1716 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 210 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 1794 Views 0 comment Print

Exposure Draft of SA 300: Planning an Audit of Financial Statements

CA, CS, CMA : Explore the significance of Standard on Auditing 300 in planning and executing financial statement audits. Learn the requirements,...

November 24, 2023 2247 Views 0 comment Print

Draft Standard on Auditing 210 Agreeing the Terms of Audit Engagements

CA, CS, CMA : Explore the importance of agreeing audit engagement terms, preconditions, responsibilities, and legal considerations. Learn from t...

November 24, 2023 1107 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 1941 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 8358 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 6175 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 2660 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 5624 Views 0 comment Print


Latest Notifications


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 1389 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 10398 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 10422 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 7033 Views 0 comment Print

RBI issues revised guideline on Concurrent Audit System in Commercial Banks

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....

July 16, 2015 3415 Views 0 comment Print


Audit Assertion

March 6, 2023 19272 Views 0 comment Print

Learn about audit assertions – the claims that financial statements are fairly represented. Explore transaction-level, account balance, and presentation & disclosure assertions.

ASM Audit & Its Importance in Clean Credit Culture

January 25, 2023 34473 Views 2 comments Print

Appointment of Agencies for specialized monitoring (ASM) was one of major key reforms under EASE 3.0 Agenda Smart, Tech-enabled banking for aspiring India

Progressing India: An-in-Depth look at 2023 Budget

January 15, 2023 1029 Views 0 comment Print

Discover the 2023 Budget for India and learn how citizens are guaranteed the best possible provisions through progressive taxes, stakeholder feedback, public polls, and expert consultation.

Changing world of Audit: AI, Robotics & Machine learning

January 3, 2023 5226 Views 0 comment Print

Audit and technology Understand how AI, Robotics and Machine Learning are changing the world of Audit. Optimize your business with cutting-edge technologies!

Social Audit: An effective tool for Corporate Governance

January 1, 2023 1557 Views 0 comment Print

Learn how Social Audit is an effective tool for Corporate Governance in the G20 Summit. SEBI will examine corporate sector transparency, fiduciary accountability, and more.

Audit Documentation and its Importance

December 28, 2022 8223 Views 0 comment Print

Standard on Auditing (SA) 230, ‘Audit Documentation’ prescribes the basic principles of audit documentation. Reporting requirements of Companies Act, 2013 is very much necessary as per the auditing standards.

Understanding of Digital Forensics And Its Application

December 27, 2022 780 Views 0 comment Print

Digital forensics is the process of collecting, analyzing and reporting on digital data in order to find evidence for use in a legal case. It can be used to investigate crimes such as child pornography, terrorist activities or online financial scams.

Stock Audit – Advantages, Importance, procedures and Checklist

December 7, 2022 14070 Views 0 comment Print

Discover the advantages and importance of stock audit. Learn about the procedures and checklist to ensure accuracy in your inventory management.

How to Audit Debtor Balance: An overview

November 30, 2022 17484 Views 0 comment Print

Learn how to audit debtor balance in a simplified manner. Understand the key factors and procedures involved in auditing debtors.

Audit is a powerful & inescapable tool of good governance – Vice President

November 21, 2022 1062 Views 1 comment Print

Describing audit as a powerful and inescapable tool of good governance, Shri Dhankhar cautioned that the absence of audit or inefficient audit would lead to system degeneration. He also called for increased focus by CAG on the instances of utility certificates involving massive public funds not being imparted for long by governmental entities.

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