Audit Articles


Smarter Audits: How AI is Transforming Cost Efficiency Detection

  Affluence Advisory    28 April 2025 at 08:29

Cost Auditing is crucial for businesses to uphold financial discipline, adhere to regulations, and enhance their cost management practices.



Audit Verification of Revenue: Aligning with Ind AS 115 for Accurate Reporting

  CA Jaydeep Babubhai Vadher    26 April 2025 at 08:26

Understanding the Verification of Revenue and the Role of Ind AS 115 in Revenue Recognition



Show Cause Notices Issued by MCA for Non-Compliance with Cost Audit Provisions & Handling of Such Notices

  CMA Navneet Kr Jain    02 April 2025 at 08:37

The Ministry of Corporate Affairs has recently issued a number of notices to various companies for not complying with the various provision under section 148 of the Companies Act 2013 primarily for non filing of cost audit reports



Will AI Replace Chartered Accountants?

  May    13 February 2025 at 08:42

Will AI replace CAs? The answer is nuanced, requiring us to delve into the multifaceted responsibilities of CAs and the capabilities of AI.



How NFRA is Increasing the Responsibility of Audit Committees in Corporate Governance?

  CA Tushar Makkar    30 January 2025 at 10:04

NFRA has been constituted as a quasi-judicial body with a larger remit than NACAS (National Advisory Committee on Accounting Standards).



Legal Duties of an Auditor in Company Audits

  Ishita Ramanipro badge    29 January 2025 at 08:49

This article highlights the responsibilities of an auditor in company audits, the challenges faced by using auditors in India, and the significance of their role in ensuring compliance.



Receivable Audits & External Confirmations on Financial Reporting

  J. D. Shah Associates    23 January 2025 at 08:34

In the current business environment, accurate financial statements are crucial for effective decision-making and ensuring financial stability. Let's dive deeper into why these practices are so important for your business.



Red Flags in Auditing: Lessons from NFRA's Investigations

  CA Gyati Gupta    26 December 2024 at 08:39

Auditing serves as the cornerstone of financial integrity, ensuring that stakeholders can rely on financial statements for decision-making.



Why Internal Audits Are Essential for Business Success

  Sundaran.D    29 November 2024 at 08:49

In today’s fast-evolving business environment, companies are under constant pressure to manage risks, comply with regulations, safeguard assets, and optim



Cost Audit Applicability for Small and Medium Enterprises (SMEs)

  Ishita Ramanipro badge    16 November 2024 at 06:58

This article explores the cost audit applicability for SMEs, its benefits, and the criteria that determine its relevance.