Audit Articles

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

09 June 2026 1021 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 140 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 844 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.

When Audit Under Section 44AB Required and How to File?

Posted by Chaitra Seetharam 01 March 2026 0 Views

Section 44AB of Income Tax Act mandates certain categories of taxpayers to get their accounts audited. Check who is eligible for Tax Audit?

The Rise of AI and Its Impact on SOX Controls

Posted by CA. Ramya U R 28 February 2026 307 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 90 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.

CMA vs CA Audit Mandate Dispute: The Struggle for Audit Jurisdiction

Posted by Chaitra Seetharam 08 February 2026 17 Views

CMA vs CA Audit Mandate Dispute - Know how this conflict involves not just legal interpretation but also issues of professional jurisdiction.

Internal Control Failures: Real Examples and Lessons for Auditors

Posted by CA Tushar Makkar 01 January 2026 1033 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 574 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.