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...
In this article, we will have insight over the applicable provisions of certain most common sections (yet vital) of the Companies Act 2013, which we come through day in and day out during Audit and Assurance assignments. CARO 2020 CARO 2020 is applicable to all companies including foreign companies w.e.f 1st April 2021. Following are […]
Q.1 What is Internal Audit? Ans. -Internal Audit(s) is/are performed to assess and improve the effectiveness of governance, risk management, and control over critical processes. Also, it provides the board and management with information and assurance related to their duties. -Technically, Internal Audit is a cost center in a company—it does not generate revenue. However, […]
As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. terminologies are also tuned here. Let us sail beyond statutory sections sight u/s 134, […]
As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. terminologies are also tuned here. Let us sail beyond statutory sections sight u/s 134, […]
Expression of Interest for Internal / Statutory Audit of various units of ICAI for the financial year 2021-22 Audit Committee (ICAI) has invited applications from eligible Chartered Accountant firms for appointment as Internal / Statutory Auditors of its various units for the financial year 2021-22. Notice inviting expression of interest is available at following link containing […]
Incorporating Internal Financial Controls over Financial Reporting Empirically Series 2 –P2P (Listed Companies Call) As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. […]
Incorporating Internal Financial Controls over Financial Reporting Empirically- Series 1 –Insurance Process (Listed Companies Call) As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. […]
Incorporating Internal Financial Control Over Financial reporting empirically (Listed Companies Call) As captioned, I will surely not sail through statutory sections sight u/s 134, 143,177 of Companies Act, 2013 but certainly carve into crux of the topic. This article will dive deep intro review as well as testing touch of IFC (Per se means internal […]
Risk Management – making it effective from the point of view of industry finance professionals to work in peace Risk Management – Part 1: All Risk Policy: We start with relatively under played policy under the umbrella of All risk Policy namely Portable Equipment policy ~ Generally covers Laptops and Mobiles. This could be extended […]
Internal Audit after Pandemic – Change in approach, technique and expectation from Internal audit As conglomerates make substantial demands on internal auditors to help them deal with the several issues that arise as a result of the COVID-19 crisis, internal auditors must keep up. They may also get dragged into additional roles that may test […]
