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 : The Order No. 002/2024 Date: 05.01.2024, centered around CA Anil Chauhan, the Engagement Partner (EP) of Anil Chauhan & Associates...
Company Law : Supreme Court's recent decision in Deloitte Haskins and Sells LLP to uphold Section 140(5) of Companies Act 2013 & its impact on a...
CA, CS, CMA : Get expert support on auditing aspects for statutory audits. ICAIs Auditing and Assurance Standards Board (AASB) forms an expert p...
CA, CS, CMA : Get expert help with bank branch audit queries for 2023-24. AASB, ICAI's online panel resolves challenges faced by auditors. Email...
Company Law : Explore NFRA's audit inspection report on Price Waterhouse Chartered Accountants LLP. Detailed analysis of audit compliance, key o...
Company Law : Explore detailed NFRA Inspection Report 2022 on SRBC & Co. LLP. Key findings include audit documentation, leadership structure, an...
Company Law : Explore NFRA Inspection Report 2022 on Deloitte Haskins & Sells LLP, uncovering critical audit quality assessments, non-compliance...
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 ...
Corporate Law : Explore NFRA Order No. 018/2024 on CA Yogesh Mahipal for audit misconduct findings and penalties under Companies Act 2013. Detaile...
Company Law : NFRA issues Order against Krishna Neeraj & Associates and CA Krishna Kr Neeraj for professional misconduct in CMIL's audit, imposi...
Company Law : National Financial Reporting Authority's order penalizes M/s Dhiraj & Dheeraj and auditors for misconduct in the audit of Relianc...
Company Law : Explore NFRA's order penalizing PCN & Associates and CA Gopala Krishna Kandula for non-cooperation in statutory audit investigatio...
Corporate Law : The NFRA issues an order against CA Ratan Laxminarayan Rathi for professional misconduct in the audit of Bilcare Limited. Discover...
NFRA has issued Order imposing penalties and sanctions on M/s ASRMP & Co. and auditors CA A. S. Sundaresha and CA Madhusudan U A for professional misconduct in audit of Coffee Day Global Limited for FY 2019-20.
The National Financial Reporting Authority (NFRA) has issued an order penalizing CA Sachin Kansai, the Engagement Partner (EP) for the audit of M/s Anshu’s Clothing Ltd (now known as Aditri Gems & Jewels Ltd) for the Financial Year (FY) 2015-16, under Section 132(4) of the Companies Act, 2013. The order addresses various non-compliances with accounting […]
Explore the liability of auditors under the Companies Act, 2013. This analysis examines recent court rulings and the impact of Section 140(5) on auditors’ resignation and fraudulent acts.
NFRA issued a circular highlighting statutory auditors’ obligations to report fraud in accordance with Companies Act, 2013. Circular emphasizes consequences for auditors who fail to fulfill their reporting duties and clarifies that resignation does not absolve them of their responsibilities.
Explore the comprehensive procedure and criteria for Chartered Accountant firms to apply as Concurrent Auditors for State Bank of India, including eligibility, submission guidelines, and selection process.
Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5) is neither discriminatory, arbitrary and/or violative of Articles 14, 19(1)(g) of Constitution of India
Stay compliant and avoid NFRA penalty proceedings with this summary and checklist for Chartered Accountants. Learn from the case of M/s ASRMP & Co., Chartered Accountants, covering issues like audit engagement independence, tampering of audit files, lapses in audit procedures, and more. Enhance your audit checklist to prevent the highlighted issues and ensure adherence to regulatory requirements.
ICAI Auditing and Assurance Standards Board – Expert Panel for Addressing Queries related to Statutory Audit pertaining to Auditing Aspects
Firm of Chartered Accountants cannot accept branch Audit of the Bank if one of the partners has taken the loan from any branch of that bank. The members should not place themselves in position which would either compromise or jeopardize their independence.
The concurrent Auditor of a Branch can undertake the assignment of LFAR only with respect to Branches which are not subject to Statutory Audit. With respect to Branches which are subject to Statutory Audit, the LFAR assignment shall be undertaken by the Statutory Auditor.
