This article gives a detailed analysis of provisions regarding Sarbanes Oxley Act(SOX) , Corporate Responsibility for Financial Reports and the Internal Controls to reviewed by the IT systems auditors while conducting an audit.
Continue Reading »ICAI, being the regulator, certifier, and educator of the accountancy profession since 1949 in India has brought up a new code of ethics in 2019. The same was to be made effective from 1st April 2020 however made applicable from 1st July 2020 due to COVID 19.
Continue Reading »MCA has announced that CARO 2020 will apply for financial years commencing from 1st April 2020 instead of financial years commencing on or after 1st April 2019...
Continue Reading »The auditors have been using client data to form opinions and to understand financial transactions. In this article, we will discuss the data analysis of the retail sector.
Continue Reading »CARO 2020 sharpens the reporting requirements with respect to utilization and end-use of funds, including bringing back certain requirements around the use of short term funds for long term purposes
Continue Reading »An Audit Committee shall function independently, and should comprise majorly of independent directors with a balance of non-executive and non-independent directors.
Continue Reading »Tax Audit Report in Form No. 3CA is applicable, where a person having business/profession, is required to get its accounts audited under any law.
Continue Reading »All about the Tax Audit Report and Forms 3CA, 3CB, 3CD, and 3CE including its particulars, objectives, due date, and penalty, etc.
Continue Reading »For auditors, the main driver of using data analytics is to improve the quality of an audit. In this article, we discuss two important areas where the auditors need to concentrate.
Continue Reading »In this article, we deal with the reporting requirements related to assets. CARO 2020 largely retains the principles and reporting requirements of property, plant, and equipment.
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