Audit Articles

Rajesh Exports Audit Red Flags: Inside India's Biggest Financial Reporting Scandal of 2026

09 June 2026 772 Views

SEBI's allegations against Rajesh Exports over a reported Rs 15.15 lakh crore revenue misrepresentation highlight critical audit red flags, including unverifiable revenues, ageing receivables, overseas subsidiaries, fictitious transactions, fund diversion and weak documentation.

ICFR Implementation: Practical Challenges in Achieving Operating Effectiveness

Posted by SHAIK ZUNAIR 30 April 2026 135 Views

A comprehensive analysis of Internal Financial Controls over Financial Reporting (ICFR) under the Companies Act, 2013. Explore key deficiencies, audit insights, ICAI guidance and practical strategies to strengthen control design and effectiveness.

Big Four vs Bharat: Audit War Brewing?

Posted by CA Ayush Agarwal 13 April 2026 260 Views

Explore India’s evolving audit policy as the government reassesses the Big Four’s role in sensitive sectors. Learn how data sovereignty, ICAI-led reforms and efforts to strengthen domestic audit firms could reshape the future of auditing in India.

Advances Audit in Bank Branch - What the Regulations Say That Practice Often Misses

Posted by CA Pardeep Tayal 06 April 2026 815 Views

A practical guide to bank branch audit of advances under RBI IRAC 2025 and ICAI Guidance Note 2026. Learn key NPA classification rules, CBS manipulation risks, provisioning triggers and critical audit red flags every auditor must check.

The Rise of AI and Its Impact on SOX Controls

Posted by CA. Ramya U R 28 February 2026 294 Views

Explore how Artificial Intelligence is transforming SOX compliance, financial controls and IT governance. Learn the emerging risks, audit challenges, real-world scenarios, and key considerations for auditors in an AI-enabled control environment.

Why Compliance Falls Apart in SMEs and How to Get Ahead of It

Posted by Aashok F C Advisory 21 February 2026 87 Views

Why compliance breaks down in SMEs and how to fix it before penalties hit. Learn practical steps to build systems, assign ownership, improve documentation, and stay audit-ready.

Internal Control Failures: Real Examples and Lessons for Auditors

Posted by CA Tushar Makkar 01 January 2026 987 Views

Explore real-world internal control failures like the Satyam scandal and global fraud cases. Learn practical audit lessons every CA and audit student must know....

Navigating from SQC-1 to SQM-1: What Indian Audit Firms Must Know Before 2026

Posted by CA Amrita Chattopadhyay 27 November 2025 573 Views

SQM-1 marks a major shift in India’s audit landscape, moving firms from documentation-led compliance to risk-based quality management. Learn how the transition from SQC-1 to SQM-1 strengthens governance, RCA, continuous monitoring, and prepares Indian firms to compete globally.

Understanding the Different Types of Audits: Which One Is Right for Your Business?

Posted by CA Tushar Makkar 19 November 2025 1709 Views

Understand the different types of audits - financial, internal, tax, compliance, operational, IT and forensic and learn how to choose the right one for your business.

Audit Materiality Explained: Planning Materiality, Tolerable Error and Summary of Audit Difference

Posted by Arpitha Kanchi 11 October 2025 2227 Views

Learn how auditors use Planning Materiality, Tolerable Error, and Summary of Audit Difference to assess financial misstatements and ensure fair presentation.