CA, CS, CMA : The standards explain how written representations and external confirmations help auditors obtain reliable evidence and support au...
CA, CS, CMA : Explore the ethical issues in auditing, their consequences, and strategies for maintaining integrity. Understand how ethical stand...
CA, CS, CMA : Learn how to set audit materiality, performance materiality, and determine sample sizes using Excel. Enhance audit accuracy and co...
Company Law : Coffee Day Enterprises Limited (CDEL) operates in various sectors, including coffee retailing, logistics, financial services, and...
CA, CS, CMA : SAS 500 is the fifth of the 16 SAS, which will become effective once posted by ICAI SRO i.e ISAI. The prime objective is to drasti...
Corporate Law : NFRA recommends 40 Auditing Standards for LLPs under the LLP (Amendment) Act 2021, effective from April 2026, for approval by the ...
CA, CS, CMA : Framework for Social Audit Standards defines and describes the elements and objectives of a social audit performed by social audit...
CA, CS, CMA : ICSI Social Audit Standard – 16 (ICSI SAS-16) aims to aid the Social Auditors with necessary instructions or guidelines for the ...
CA, CS, CMA : ICSI Social Audit Standard – 15 (ICSI SAS-15) aims to aid the Social Auditors with necessary instructions or guidelines for the ...
CA, CS, CMA : ICSI Social Audit Standard – 14 (ICSI SAS-14) aims to aid the Social Auditors with necessary instructions or guidelines for the ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Company Law : Further deferral of SA 701 cannot be permitted and it remains applicable for audits of financial statements for periods beginning ...
The Sustainability Reporting Standards Board (SRSB) formulates this Standard on Sustainability Assurance Engagements (SSAE) 3000 Assurance Engagement on Sustainability Information.
Council decided that the effective date of application of SAE 3410 shall be as follows – (i) Voluntary basis for assurance reports covering periods ending on March 31, 2023 (ii) Mandatory basis for assurance reports covering periods ending on or after March 31, 2024
t may be noted that audit is required for the purpose of giving true and fair view of the financials of a Company by an auditor who is an external party and independent of the transactions being done in the company, giving an unbiased opinion on the affairs of the Company. Such true and fair position of the financials is reported before various Government authorities such as Ministry of Corporate Affairs, Income Tax Authorities, GST Departments, Labor Law authorities etc.
SA 701 & SA 570: Auditor special considerations with respect to covid-19 pandemic In light of the corona virus pandemic various tragedies and sufferings are currently faced by the community and there is also economic slowdown having significant impact on the economy resulting in halt down the GDP of the country, the users of the […]
A practicing chartered accountant is generally well versed with tax laws, company law and even the accounting standards. Unfortunately, as is evident from numerous findings of reviews by the Quality Review Board, the focus on standards on auditing is missing. This article aims to highlight the key aspects of the standards on auditing.
Key Audit Matter, professionally known as SA 701, is no more a newly introduced standard for any auditor. The auditor has been given the onerous responsibility as well as individual decision to incorporate it in the audit report. Incorporated as those of the most significant in the audit of financial statements from the year reports […]
1. Management of the entity should assess the impact of COVID-19 and the measures taken on its ability to continue as a going concern. 2. The impact of COVID- 19 after the reporting date should also be considered and if, management after the reporting date either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so, the financial statements should not be prepared on going concern basis.
The Institute of Chartered Accountants of India (ICAI) has recently issued exposure draft on Standard of Internal Audit (SIA)- 150- ‘Compliance with laws and Regulations’. Here in this article we would briefly understand the Internal Auditor’s Responsibility with regard to Compliance with Laws and Regulations.
The term Those Charged with Governance (TCWG) refers to either an individual, or a body of individuals, or a separate legal entity with the responsibility for overseeing the strategic direction and accountability of the organisation.
Exposure Draft of Standard on Internal Audit (SIA) 350, Review and Supervision of Audit Assignments (Comments to be received by September 14, 2019) EXPOSURE DRAFT STANDARD ON INTERNAL AUDIT (SIA) 350 REVIEW AND SUPERVISION OF AUDIT ASSIGNMENTS The Internal Audit Standards Board of the Institute of Chartered Accountants of India (ICAI) invites comments on Standard […]
