Corporate Law : AI is reshaping internal audit by replacing manual testing with continuous risk monitoring and automated analysis. The key takeawa...
Company Law : Private limited companies with turnover above ₹200 crore or borrowings exceeding ₹100 crore must appoint an internal auditor u...
CA, CS, CMA : This article explains how risk-based internal audit prioritises high-impact business areas over routine verification. It highlight...
CA, CS, CMA : This explains how internal audit focuses on ongoing risk prevention while forensic accounting investigates suspected fraud. The ke...
Company Law : Learn which companies must appoint internal auditors under Section 138, the eligibility criteria, and the statutory compliance ste...
CA, CS, CMA : A public sector bank has invited quotations to appoint external auditors for reviewing its internal audit and compliance functions...
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...
Company Law : ROC Delhi imposed penalties under Section 450 after a company failed to appoint an internal auditor despite crossing prescribed fi...
Company Law : The issue involved non-compliance with mandatory internal auditor appointment requirements. The authority imposed penalties as the...
Company Law : ROC Mumbai held that once delay in appointing an Internal Auditor was compounded by the Regional Director and default rectified, n...
Company Law : ROC Chennai held that listed companies must appoint an internal auditor under Section 138. Non-compliance over multiple years resu...
Company Law : The adjudicating authority held that non-appointment of an internal auditor despite crossing the statutory turnover threshold viol...
The appeal was dismissed as no documentary evidence of internal auditor appointment was produced. The key takeaway is that statutory claims must be backed by records.
A company and its officer were penalized under Section 138 for failing to appoint an internal auditor for FY 2022-23 and 2023-24, with corrective measures and penalties mandated.
Learn which companies must appoint internal auditors under Section 138, the eligibility criteria, and the statutory compliance steps to follow.
Discover how internal auditors use financial management concepts like inventory, cash, and capital management to assess efficiency and mitigate financial risks.
A practical guide to integrating AI into internal auditing, covering its applications in risk assessment, fieldwork, reporting, and continuous monitoring for efficiency.
Explore how cost accounting methods enhance internal audit through variance analysis, marginal costing, CVP, and risk-based auditing strategies.
Learn how to prepare an effective internal audit report that goes beyond compliance to add value. The guide covers structure, key components, and reporting techniques.
ROC Cuttack imposes penalties on Hari Machines Ltd. and its directors for violating the Companies Act by failing to appoint an internal auditor from the financial year 2015-16 onwards.
Learn the 8-step process for conducting IFC testing, from identifying key business processes to documenting findings, to ensure financial transparency and compliance.
Internal Audit has shifted from compliance to value creation. Learn how proactive auditors, auditee participation, structured planning, and clear communication drive effective internal audit.
