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Articles by P.R. Sethuraman

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Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

  P.R. Sethuraman    03 October 2016 at 10:47

The purpose of the article is limited to the topic on Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

Posted in Audit  1 comments |   171864 Views


Internal Financial Control

  P.R. Sethuraman    14 September 2016 at 10:39

The first and foremost duty of auditors with regard to Internal Financial Controls over Financial Reporting is to see and get satisfied as to the framework set in place as specified in the Guidance Note and as �declared in Directors

Posted in Audit  4 comments |   27576 Views


Corporate Governance - In retrospect

  P.R. Sethuraman    12 August 2016 at 10:57

Corporate governance is a sine qua non. It is a must in a globalised environment.

Posted in Corporate Law  1 comments |   5999 Views


Forensic Audit - A Modern Day Thrust and Thirst

  P.R. Sethuraman    09 July 2016 at 11:29

Forensic Audit-a Modern Day Thrust and ThirstIntroduction: In the recent past, more so in the previous decade, accounting and auditing community witnessed and i..

Posted in Audit  6 comments |   18760 Views


Ind AS 19 on Employee Benefits

  P.R. Sethuraman    03 June 2016 at 10:51

Employee Benefits include and cover all forms of consideration given by an entity in exchange for service rendered by employees. Pictorially, it is mapped out below. Post-Employment Benefits are employee benefits (other than termination benefits

Posted in Audit  5 comments |   76364 Views


Ind AS12 on income taxes

  P.R. Sethuraman    20 April 2016 at 11:52

What is tax expense?Tax expense (income) is the aggregate amount included for determination of profit and loss in respect of current tax and deferred Tax. Income tax relating to items charged or credited to other comprehensive income/equity is charge

Posted in Audit  4 comments |   76098 Views


Ind AS 110 on Consolidated Financial Statements (CFSs)

  P.R. Sethuraman    07 March 2016 at 10:56

Ind. AS 110 on Consolidated Financial Statements (CFSs) Before the commencement of the Companies Act 2013, Consolidated Financial Statements are the SEBI requirements for the Listed Companies. But, the Companies Act 2013 mandates

Posted in Audit  1 comments |   201186 Views


Ind AS 103 on business combination

  P.R. Sethuraman    01 February 2016 at 10:29

�Comb� as everybody knows is used to untangle, arrange smooth out, straighten and neaten the hair by drawing the comb through it. Therefore, the �comb�, in the context of �Business combi

Posted in Corporate Law  3 comments |   214383 Views


Measurement of Debt Instruments under Ind AS

  P.R. Sethuraman    06 January 2016 at 11:05

Financial Instruments are valued either at amortised cost or at fair value. Fair value valuation could be either by fair value through Profit and Loss or Fair value Through Other Comprehensive Income; the latter could be transferred on de-recognition

Posted in Audit  4 comments |   43511 Views


Disclosure norms - Living Figures vs. Book Figures

  P.R. Sethuraman    01 December 2015 at 12:23

The word �close� has dynamically two different meanings depending upon the usage either as a verb or otherwise. If one says he is close to you, it means he is nearer to you either by distance or conception. If the same is used as �v

Posted in Audit  1 comments |   5648 Views