CA, CS, CMA : This explains what materiality means in an audit and why it matters for financial decision-making. The key takeaway is that materi...
CA, CS, CMA : This case explains why related party transactions require heightened audit scrutiny under SA-550. The key takeaway is that influen...
CA, CS, CMA : Auditing is a regulated process culminating in an opinion on whether financial statements are True and Fair. It requires professio...
CA, CS, CMA : Explore auditing essentials covering internal and statutory audits, detailed checks for cash, bank, purchases, sales, inventory, a...
CA, CS, CMA : CA. Shreyas Dharkar How Standards on Auditing, Guidance Notes, and Code of Ethics Collaboratively Reduce Punishments Imposed by NF...
CA, CS, CMA : ICAI raises concerns about SA 600 vs. ISA 600 revision process, urges pause for stakeholder review to ensure public interest and p...
CA, CS, CMA : CCI introduces General Regulations 2024, revising the 2009 rules. Key changes address stakeholder concerns on applications, submis...
CA, CS, CMA : ICAIs Auditing and Assurance Standards Board releases an Exposure Draft for audits of less complex entities. Comments invited unti...
CA, CS, CMA : Stay updated with the latest revisions in auditing standards by ICAI. Download SA 800, SA 805, SA 810 for audits starting April 20...
CA, CS, CMA : Auditors must have understanding of standards for reporting on ICAI's revised summary financial statements. Get informed on new re...
Company Law : NFRA penalizes CA Santosh Deshmukh ₹5L & 1-year debarment for audit lapses in Sanwaria Consumer Ltd's FY 2017-18 audit. Key audi...
Company Law : NFRA imposes penalty of Two Lakhs on CA Hemant Khator Swami who was Engagement Partner for the statutory audit of Women Next Lou...
Company Law : NFRA imposes penalty of Two Lakhs on CA Narayan Prasad Swami who was Engagement Partner for the statutory audit of Women Next Lo...
Company Law : NFRA’s investigations inter alia revealed that the TDL’s Auditors for the FY 2018-19, had failed to meet the relevant ...
Company Law : NFRA’s investigations revealed that the appointment of none of the 33 branch auditors was approved at the Annual General Mee...
NFRA imposes penalty of Two Lakhs on CA Hemant Khator Swami who was Engagement Partner for the statutory audit of Women Next Loungeries Ltd for Financial Year 2016-17 for Audit failures and also debarred him for two years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of […]
NFRA imposes penalty of Two Lakhs on CA Narayan Prasad Swami who was Engagement Partner for the statutory audit of Women Next Loungeries Ltd for Financial Year 2017-18 for Audit failures and also debarred him for two years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of […]
NFRA’s investigations inter alia revealed that the TDL’s Auditors for the FY 2018-19, had failed to meet the relevant requirements of the Standards on Auditing (‘SA’ hereafter) in a number of significant aspects and demonstrated a serious lack of competence. They failed to evaluate their potential conflict of interest and failed to maintain their independence […]
Explore a sample format for creditors confirmations, crucial for auditing to validate balances. Learn about positive confirmation requests and get insights on illustrative letters for creditors, ensuring accuracy in financial records. Optimize your audit processes with this comprehensive guide.
NFRA’s investigations revealed that the appointment of none of the 33 branch auditors was approved at the Annual General Meeting (AGM) of DHFL, as required by the Act. The audit firm and CA Mathew Samuel accepted the appointment, portrayed themselves as “Branch Statutory Auditor” in all communications with the Company and CAS, and issued an […]
Audit documentation means records of audit procedure performed by an auditor during an audit procedure. sometimes it is also commonly known as ‘working papers of an auditor’.
Auditor not complied with the principles and procedures laid down in the SAs, had not maintained proper audit documentation and displayed flawed understanding and interpretations of the various stipulations in the law and standards in an unprofessional manner that established the EP’s professional misconduct in terms of section 132 (4) of the Companies Act 2013.
Auditor violated several Standards on Auditing (SA) that are required to be followed during conduct of an audit of historical financial information and in providing an auditor’s certificate.
Understand the steps and precautions to ensure compliance of SA 230 with related party transactions. Explore limit thresholds, board approval & more. Summary of compliance for related party transactions.
Standard on Auditing (SA) 230, ‘Audit Documentation’ prescribes the basic principles of audit documentation. Reporting requirements of Companies Act, 2013 is very much necessary as per the auditing standards.
