The LEI was created to help control counterparty risk by allowing the identification and linkage of parties to financial transactions. Its purpose is to make systemic risk measurement and monitoring easier and more cost-effective, as well as to assist more cost-effective compliance with regulatory reporting requirements.
All internal audit projects should begin with the team clearly understanding why the project was put on the audit plan.
Companies considering the interest of all its well-wishers, who want to report genuine concerns within the organization, implements the Vigil Mechanism/Whistle Blower Policy.
Statutory Audit is a type of audit which is mandated by a Law or a Statute to ensure the books of accounts presented to the regulators and public are true and fair.
The incidence of short payment and non-payment of tax, wrong availment of Input Tax Credit, etc. may be because of an inadvertent bona fide mistake (Normal Cases) or it may be a deliberate attempt (Fraud Cases) to evade the tax.
Exporting goods across borders is complex and exposes a wide range of risks of non-payment from the buyers.
Bank Lockers- Income Tax Search and Seizure
The partners need to check the LLP agreement, in case it provides for the procedure for shifting the registered office of the LLP. In case no procedure is prescribed, obtain consent of all partners regarding change of registered office.
E-Way Bill is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybillgst.gov.in.
As Artificial Intelligence works for every industry, it certainly has a significant impact on the accounting and finance industries as well.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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