Internal Audit

Importance of Risk Assessment & Management

CA, CS, CMA - The article briefly explains the importance of risk assessment and management in the current scenario wherein a lot of frauds/ scams are happening. Be it the case of corporate houses, banks, service centres, IT companies....

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Role of Internal Audit in Fraud Prevention and Detection

CA, CS, CMA - Fraud is not a recent phenomenon associated to some highly-publicized cases of financial fraud from the last two centuries. It can be found early in the history of our world as men have made use of tricks, manipulation, and deceit in order to acquire money, land, goods, or trust, with the overall objective of making profit....

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How to Implement Effective Internal Controls to Prevent Revenue Leakage

CA, CS, CMA - Small business dealers dealing in unorganized markets has always faced the problem of revenue leakage due to lack of availability of Man Power Resources as well as too much dependence and trust on existing employees....

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Internal Audit And Scope For “Other” Professionals

CA, CS, CMA - The term audit is derived from the Latin term audire which means to hear. In early days an auditor used to listen to the accounts read over by an accountant in order to check them....

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Emerging Issues And Challenges in Internal Auditing

CA, CS, CMA - Traditionally, the internal audit function focused on providing core assurance around business process risk and controls. But, with increasing market volatility and complexity, internal audit is being asked to deliver deeper insights and value beyond assurance, particularly in the areas of strategy execution, emerging risk, and increasing...

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Exposure Draft of Standard on Internal Audit (SIA), Planning Internal Audit Assignment

CA, CS, CMA - IASB of ICAI invites comments on proposed revision of the Standard on Internal Audit (SIA) 000 – Planning the Internal Audit Assignment. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

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Exposure Draft of Standard on Internal Audit (SIA), Conducting Overall Internal Audit Planning

CA, CS, CMA - IASB of ICAI invites comments on proposed revision of the Standard on Internal Audit (SIA) 000 – Conducting Overall Internal Audit Planning. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

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Exposure Draft of Standard on Internal Audit (SIA), Internal Audit Evidence

CA, CS, CMA - IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Evidence. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

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Exposure Draft of Standard on Internal Audit (SIA), Internal Audit Documentation

CA, CS, CMA - IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Documentation. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

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Exposure Draft of Standard on Internal Audit (SIA), Managing Internal Audit Function

CA, CS, CMA - IASB of ICAI invites comments on a new Standard on Internal Audit (SIA) 000 – Managing the Internal Audit Function. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

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SEBI circular on Internal Audit for Credit Rating Agencies

Notification No. SEBI/MIRSD/CRA/ Cir-01/2010 - (06/01/2010) - It is clarified that for the half-year October 2009 - March 2010, the CRA shall receive the report of the internal audit by May 31, 2010. Its Board of Directors shall consider the report and take appropriate measures to rectify the deficiencies and the CRA shall send the Action Taken Report to SEBI ...

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Internal Audit’s Popular Posts

Recent Posts in "Internal Audit"

Importance of Risk Assessment & Management

The article briefly explains the importance of risk assessment and management in the current scenario wherein a lot of frauds/ scams are happening. Be it the case of corporate houses, banks, service centres, IT companies....

Read More
Posted Under: CA, CS, CMA |

Exposure Draft of Standard on Internal Audit (SIA), Planning Internal Audit Assignment

IASB of ICAI invites comments on proposed revision of the Standard on Internal Audit (SIA) 000 – Planning the Internal Audit Assignment. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

Read More
Posted Under: CA, CS, CMA |

Exposure Draft of Standard on Internal Audit (SIA), Conducting Overall Internal Audit Planning

IASB of ICAI invites comments on proposed revision of the Standard on Internal Audit (SIA) 000 – Conducting Overall Internal Audit Planning. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

Read More
Posted Under: CA, CS, CMA |

Exposure Draft of Standard on Internal Audit (SIA), Internal Audit Evidence

IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Evidence. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

Read More
Posted Under: CA, CS, CMA |

Exposure Draft of Standard on Internal Audit (SIA), Internal Audit Documentation

IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Documentation. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

Read More
Posted Under: CA, CS, CMA |

Exposure Draft of Standard on Internal Audit (SIA), Managing Internal Audit Function

IASB of ICAI invites comments on a new Standard on Internal Audit (SIA) 000 – Managing the Internal Audit Function. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording....

Read More
Posted Under: CA, CS, CMA |

Role of Internal Audit in Fraud Prevention and Detection

Fraud is not a recent phenomenon associated to some highly-publicized cases of financial fraud from the last two centuries. It can be found early in the history of our world as men have made use of tricks, manipulation, and deceit in order to acquire money, land, goods, or trust, with the overall objective of making profit....

Read More
Posted Under: CA, CS, CMA |

ICAI Exposure Draft Framework Governing Internal Audits

Internal audits are conducted within a defined framework that lays down the boundaries and identifies, in a broad manner, how the internal audit activity is performed. This framework provides the required clarity on key components of the audit activity and helps aggregate all aspects of the internal audit process in a cohesive manner ther...

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Posted Under: CA, CS, CMA |

Exposure Draft of Preface to Framework & Standards on Internal Audit

EXPOSURE DRAFT PREFACE TO THE FRAMEWORK AND STANDARDS ON INTERNAL AUDIT* (Last date for comments- January 17, 2018) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on proposed revision to the Preface to the Framework and Standards on Internal Audit. Comments are most helpful if...

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Posted Under: CA, CS, CMA |

How to Implement Effective Internal Controls to Prevent Revenue Leakage

Small business dealers dealing in unorganized markets has always faced the problem of revenue leakage due to lack of availability of Man Power Resources as well as too much dependence and trust on existing employees....

Read More
Posted Under: CA, CS, CMA |
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