CA, CS, CMA : Key controls for inventory valuation in Oracle Fusion: compliance, quality testing, and accurate reporting to avoid discrepancies ...
Company Law : Learn about internal audit obligations under Section 138 of the Companies Act, 2013, including criteria, auditors, and penalties f...
CA, CS, CMA : Understand the importance and role of internal audit in strengthening corporate governance, risk management, and internal controls...
CA, CS, CMA : Understand the guidelines for statutory auditors using internal audit work under SA 610, covering responsibilities, coordination, ...
CA, CS, CMA : The COSO Framework helps organizations design and assess internal controls, enhancing risk management and compliance through five ...
CA, CS, CMA : Discover the latest developments in the engagement of CA firms by PSBs. Explore changes in concurrent audit policies, RBI directiv...
CA, CS, CMA : Proposed amendments to Section 138 of Companies Act, 2013 by ICSI. Understand why Company Secretaries are equipped to conduct inte...
CA, CS, CMA : Firm of Chartered Accountants cannot accept branch Audit of the Bank if one of the partners has taken the loan from any branch of ...
CA, CS, CMA : The concurrent Auditor of a Branch can undertake the assignment of LFAR only with respect to Branches which are not subject to Sta...
CA, CS, CMA : Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-2...
Company Law : Tanman Jewels Private Limited penalized for not appointing an internal auditor. Know the penalty details and implications....
Company Law : Government imposes a penalty of ₹2.5 lakh on Systematix Securities Ltd for not appointing an internal auditor during FY 2022-23,...
Company Law : Read the adjudication order on Kudos Finance & Investments Private Limited as MCA imposes a penalty of Rs. 4.50 lakh for violating...
Company Law : MCA imposed penalties on Muthootu Mini Nidhi Limited for non-compliance with provisions of Section 138 of Companies Act, 2013. Pen...
Company Law : ROC Hyderabad penalizes Thrissur Expressway Limited and its officers Rs. 3.75 Lakhs for not appointing an internal auditor, violat...
Exposure Draft of Standard on Internal Audit (SIA) 390, Monitoring and Reporting of Prior Audit Issues (Comments to be received by September 14, 2019) EXPOSURE DRAFT STANDARD ON INTERNAL AUDIT (SIA) 390 MONITORING AND REPORTING OF PRIOR AUDIT ISSUES The Internal Audit Standards Board of the Institute of Chartered Accountants of India (ICAI) invites comments […]
Exposure Draft of Standard on Internal Audit (SIA) 120, Internal Controls (Comments to be received by September 14, 2019) Exposure Draft of Standard on Internal Audit (SIA) 120, Internal Controls* The Internal Audit Standards Board of the Institute of Chartered Accountants of India (ICAI) invites comments on Standard on Internal Audit (SIA) 120, Internal Controls. […]
Deregulation and liberalization of Indian financial sector call for effective and crucial risk management and internal control system in the conduct of banking business especially after the recent unsavory incidents of fraud and cheatings by some of the prominent borrowers causing a grave crisis in the financial market.
NABARD Consultancy Services Private Limited (NABCONS)- To conduct risk-based Internal Audit for the Company and to provide guidance on maintenance & finalization of Accounts, internal control systems and all statutory & legal compliances.
The Internal Audit Standard Board of the ICAI has, with other pronouncements, issued five Standards on Internal Audit (SIAs) in November 2018. The SIAs are a set of minimum requirements that apply to all members of the ICAI while performing internal audit of any entity or body corporate. However these are not mandatory to be undertaken by […]
Board of Directors have to confirm that they have laid down IFC and that such IFC are adequate and were operating effectively. Audit Committee Should evaluate IFC and risk management systems. Call on the auditors to comment on IFC.
It has been recommended by the Hon’ble Public Accounts Committee that the process of the Registration Process of Charitable Trusts / Institutions should be brought under the purview of internal audit.
The following is the text of the Standard on Internal Audit (SIA) 18, Related Parties, issued by the Institute of Chartered Accountants of India. The Standard should be read in the conjunction with the “Preface to the Standards on Internal Audit”, issued by the Institute of Chartered Accountants of India. In terms of the decision […]
Standard On Internal Audit (SIA) 17 Consideration Of Laws And Regulations In An Internal Audit The following is the text of the Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit, issued by the Institute of Chartered Accountants of India. The Standard should be read in the conjunction with […]
The following is the text of the Standard on Internal Audit (SIA) 16, Using the Work of an Expert, issued by the Council of the Institute of Chartered Accountants of India. These Standards should be read in conjunction with the Preface to the Standards on Internal Audit, issued by the Institute. In terms of the […]
