Audit Articles

In Indian context, Companies needs to comply with Accounting Standards notified under Section 133 of Companies Act 2013 to prepare the Financial Statements at the end each Financial Year.

SEBI circular on the resignation of statutory auditors

Few days ago some of you may have heard news saying that RBI has imposed restrictions of withdrawal on PMC bank holders. The RBI restricted to withdraw only Rs. 1,000 for whole 6 months. All the monies of account holders is at stake.

We are almost at the end of statutory audit season and many of us will be working in internal audits from now. Statutory compliance will be the compulsory component in the scope. We will be covering basic reconciliations as a part of GST testing.

After the extension of the due date to file the Income Tax Return, the Chartered Accountants are now requesting the Income Tax Department to extend the due date to submit the Tax Audit Report as soon as possible to reduce their workload.

SAT order - quashing the SEBI order debarring PW from auditing listed companies: Auditor's duty is verification and not detection

Lot of investment decisions in the present-day world are based on the reports generated by financial analysists. One of the trusted and important sources of financial information comes from audited published financials.

Additional FAQs on UDIN for Other Audit & Assurance Functions

Internal audit is an independent management function, which involves a continuous and critical appraisal of the functioning of an entity with a view to suggest improvements thereto.

How Schools should do their accounting is explained by The Institute of Chartered Accountants of India in a guidance note GN(A) 21 (Issued 2005) Guidance Note on Accounting by Schools, here in after referred to as GN (A) 21.