Company Law : Understand the appointment process, tenure, and reporting obligations for auditors under the Companies Act, 2013. Key rules, forms...
CA, CS, CMA : एनएफआरए ने बीएसआर एंड कंपनी और लोधा एंड कंपनी के आ...
CA, CS, CMA : Discover the distinctions between due diligence and statutory audit. Learn their essence, components, and how they impact decision...
CA, CS, CMA : Discover essential steps for an effective bank branch statutory audit, from initial preparation to finalization of reports. Explor...
CA, CS, CMA : Unlock your auditing potential with our practical guide for first-time statutory branch auditors in the banking sector, covering R...
Company Law : NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, ...
Company Law : Summary of NFRA's audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence poli...
Company Law : NFRA's 2023 inspection of M/s BSR & Co. LLP highlighted improvements in audit practices, independence policies, and documentation ...
Company Law : NFRA's 2023 inspection of MSKA & Associates highlights audit deficiencies, governance issues, and non-compliance with standards. D...
CA, CS, CMA : ICAI Audit Quality Maturity Model v2.0 is mandatory for firms auditing listed entities, banks, and insurance companies. It assesse...
CA, CS, CMA : Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for c...
Income Tax : Read the full text of Madras High Court's judgment on condoning the delay in income tax return filing by Kalvadangam Primary Agric...
Company Law : Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5...
Company Law : The company has stated in its application that the auditor was not able to conduct the audit in timely manner also the auditor was...
Company Law : Various acts of IL&FS like over borrowing were prejudicial to the public interest which had cascading impact on various sectors ...
Company Law : NFRA imposes Rs. 5 lakh penalty and 5-year debarment on CA Neeraj Bansal for professional misconduct during Religare Finvest Ltd's...
Company Law : The National Financial Reporting Authority imposes penalties on Deloitte and auditors for misconduct in the ZEEL audit, resulting ...
Company Law : CA Chirag Doshi faces a ₹5 lakh penalty for professional misconduct in the statutory audit of Ushdev International Limited for F...
Income Tax : NFRA imposes penalties on Venkatesh & Co. and debarment of partners for negligence during the audit of Coffee Day Enterprises Ltd,...
Company Law : NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibiliti...
In order to ensure independency of auditors, I suggest overall change in the auditor’s appointment procedure so that no one should be able to influence auditors. In today’s modern technological environment, this can be achieved by creating Automated Auditor Appointment Agency (4A).
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited.
The Finance Ministry revises remuneration for RRB statutory auditors, detailing audit fees, travel allowances, and expense norms for cost efficiency.
If an auditor of a company, in the course of the performance of his duties as auditor, has sufficient reason to believe that an offence involving fraud, is being or has been committed against/in the company by officers or employees of the company, he shall report the matter in the manner stated hereinafter.
Important Clarification on Amendment to Paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements issued by ICAI
Several audit firms have represented about adverse impacts on Indian audit firms due to the structuring of certain audit firms leading to circumvention of various regulations, manner in which auditor rotation requirements is being implemented by companies, and imposition of restrictive conditions by foreign investors with regard to auditor appointment by companies.
1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. 3. Revised SA 705, Modifications to the Opinion in the Independent Auditor’s Report. 4. Revised SA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report.
Applications are invited from the Firms of Chartered Accountants for the purpose of Stock and Book Debts audit of accounts with various branches of Allahabad Bank in the states of Andhra Pradesh and Telangana. Those firms having branch (es) either in A.P. or in Telangana and are interested to empanel as Stock Auditors with Bank may submit application as per the format attached and the last date for receipt of the application at our office at the above address shall be 06.07.2015.
Banking sector: The IT saga in Indian banking commenced from the mid-eighties of the twentieth century when the RESERVE BANK took itself the task of promoting automation in banking to improve customer service, book keeping, MIS and productivity.
We have been taught that an audit conducted with a view to give an opinion about the truthful and fairness of financial statements, it does not include the objective to find out frauds / errors. Though the principle has remained constant, the expectations thereof have gone a sea change.
