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MCA issues order regarding rotation of auditors


Ministry of Corporate Affairs has issued Companies Third Removal of Difficulty Order 2016 regarding applicability of the provisions of Rotation of Auditors as per Section 139 2 of the Companies Act 2013 PFA the enclosed attachment for more details

Clarification regarding threshold Limit of tax audit under section 44AB and 44AD


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 20th June 2016 Sub Threshold Limit of tax audit under section 44AB and section 44AD clarification regarding Section 44AB of the Income tax Act the Act makes it obligatory for every person carryi

New and revised standards on auditing


Revised SA 700 Forming an Opinion and Reporting on Financial Statements New SA 701 Communicating Key Audit Matters in the Independent Auditors Report Revised SA 705 Modifications to the Opinion in the Independent Auditors Report Revised SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraph

Preparation of Panel of CA and Firms having experience for Forensic Auditing


Central Bureau of Investigation CBI has sought the help of the Institute of Chartered Accountants of India for investigation of important Forensic Audit assignments Chartered Accountants firms having prior sufficient experience and expertise in forensic auditing may submit their details at the earli

Simplification of procedure to deal with audit objections raised in indirect taxes by CAG


Central Board of Excise and Customs CBEC has issued a circular to simplify the procedure of dealing with audit objections raised in indirect taxes by the office of CAG The Circular rescinds all the past circulars and instructions and prescribes a new simplified and consolidated procedure The Circula

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Experts Opinions

Reference of auditing book for ca final


Dear sir I have got 11th addition of CA Surabhi Bansal audit book Is this enough along with PM for November 2016 exam or I need to buy 14th addition Thanks

Tax audit applicability


If person have salary income of Rs 3 lakh Shares trading profit of Rs 1 lakh and F O loss of Rs 1 50 lakh Turnover is below 1 crore Is tax audit mandatory

What the process to do income tax audit?


Dear Sir What the process to do Income Tax Audit

Bank audit empanelment


I would like to get the advice for renewal of MEF 2016 17 Bank Branch Statutory Auditor s empenalment The last date was of online application was 25th July 2016 It ascaped by me Is there any way to complete the empenalment process If anyone can advise suggest the way out It will be highly appreciate

Clubbing of income in case of husband & wife


Hello I m stuck in a case Need ur help A House property purchased Payment made by husband but property is in name of his wife who is housewife They are having 2 house properties from which they r getting rent income including the above mentioned house and they live in another house property by payin

Discussion

Auditor becoming a employee

Hello all can you please clarify me whether a statutory auditor of a company become an employee of the same company in the subsequent year to which he was a Auditor Please also quote the relevant act and sectionif there is anything prohibiting the same Thanks in advance

Ca final audit & isca nov 16

Is practice manual sufficient for CA Final Audit and isca subjects

Non-audit j1 change

we have filed annual e return for the period of F Y 13 14 but that time we have shown one tin excess amount so nw we have change so how we will be do it please do needful

Audit book

i hav been giving my xams since may 2014 and m nt able to score good in audit I am following Surbhi Bansal book in my each term please help whether to continue with the same book or whether to go for another If so please suggest me which book I should refer to pass in audit Please help

Emapanelment of bank audit

I would like to get the advice for renewal of MEF 2016 17 Bank Branch Statutory Auditors empenalment The last date was of online application was 25th July 2016 It ascaped by me Is there any way to complete the empenalment process If anyone can advise suggest the way out It will be highly appreciated

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Analysis of Audit (CA Final) Paper for May 16 Exams


Paper Analysis Suggested Answers Common Mistakes CA Final May 2016 Exams Generally audit paper from past 4 attempts was of 7 pages but this time it increase to 11 pages 57 increase Questions of around 50 marks were from PM rest of 70 marks questions were new from module SAs Level of Questions Marks


Service Tax Audits by Department - Legal Position


INTRODUCTION Service Tax law operates under the concept of self assessment wherein the assessee self assesses his tax position and pays the service tax dues at periodic intervals prescribed therein Details of the business transactions are disclosed to the revenue by filing of the service tax returns


Forensic Audit - A Modern Day Thrust and Thirst


Introduction In the recent past more so in the previous decade accounting and auditing community witnessed and in fact confronted and gone through scandals emanating from fraudulent and manipulative devious and dubious accounts These shames outraged not only the auditing community but the public at


Audit and Auditor as per Companies Act, 2013


Chapter X of the Companies Act 2013 deals with Audit and Auditors Section 139 Appointment of Auditors 1 Every Company shall at the First Annual General Meeting appoint an Individual or firm as an Auditor who shall hold office from the conclusion of this meeting until the conclusion of sixth Annual g


CSR - Auditors' Responsibility to Qualify in Audit Report


Corporate Social Responsibility CSR is a mandatory spend stipulated by the legislation which requires the Board of Companies that falls within the criteria specified in 135 1 of the Companies Act 2013 Act to spend at least two percent of its average net profits towards CSR The term used is at least


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Updated on : 8/3/2016 2:56:04 AM


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