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...
Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-22. Please Read Corrigendum given at the end first . +-PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PFRDA) Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-22 PENSION FUND REGULATORY […]
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 […]
