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 ...
Discover the essential steps for a thorough ledger scrutiny during an audit. From reviewing entries to ensuring compliance, learn how to assess and document key accounts.
The role of audit committees in overseeing financial reporting, internal controls, and compliance programs is crucial in maintaining trust in the capital markets.
This article explores the recently introduced Statement on Auditing Standards (SAS) 100 that focuses on social audit and impact assessment engagements in the context of eradicating hunger, poverty, malnutrition, and inequality.
The engagement letter is a formal document that outlines the terms of engagement between the auditor and the company. It includes details such as the audit objectives, scope, responsibilities, and fees. An example of an engagement letter would be a document signed by the auditor and the company’s management, clearly stating the terms of the audit engagement.
A social audit is a formal review of a company’s endeavors, procedures, and code of conduct regarding social responsibility and the company’s impact on society. A social audit is an assessment of how well the company is achieving its goals or benchmarks for social responsibility.
An audit is a systematic and independent examination of financial statements, records, and other relevant documentation to provide assurance that they are free from material misstatement. In order to ensure that audits are conducted effectively and efficiently, auditors often use audit checklists and documentation.
Explore the comprehensive procedure and criteria for Chartered Accountant firms to apply as Concurrent Auditors for State Bank of India, including eligibility, submission guidelines, and selection process.
Accounts receivable refers to the money owed by customers to a business for the goods or services they have purchased on credit. It is an important part of a business’s working capital and represents the amount of cash that the business can expect to receive in the near future.
Discover the origin, benefits, and legal aspects of Social Audit. Learn about its history in India, objectives, and its significance in various sectors, including MGNREGA and corporate responsibility. Stay informed on the evolving landscape of social accountability and how organizations can contribute positively to society.
Explore the crucial differences between auditing co-operative societies and joint stock companies. Learn about the extensive responsibilities of auditors in co-operative audits, including adherence to statutory rules, valuation, examination of overdue debts, and more. Stay informed about the unique challenges and obligations faced by auditors in the co-operative sector.
