Audit Articles

Good to Great Risk Management

Sonia Jaspal 28 July 2011 at 12:35

In the aftermath of the financial crises, it would seem fair to presume that risk management functions now have higher visibility, authority and influence. However, a recent report Too good to fail? issued by Economist Intelligence Uni

Be Audible, Dear Auditor!!!

Vishnu Nair 23 July 2011 at 12:41

6BE AUDIBLE, DEAR AUDITOR!!! By Vishnu Nair, CA Final Student, Institute of Chartered Accountants of India Auditing is a profession which is destined to serve myriads of stakeholders like shareholders, lenders, creditors, analysts, credit ratin

Duties of a Auditor

Harish Chandra 16 July 2011 at 14:14

1) STATUTORY DUTIES (A) REPORT TO MEMBERS [SEC. 227 (2)] The auditor is required to make a report to the members of the company on the following matters a. Whether in his opinion the Profit and Loss Account shows a `true and fair view o

Hand Book on Professional Opportunities in Internal Audit/Assurance Work

Rajkumar Adukia 02 July 2011 at 12:51

INTRODUCTION A calm mind is better focused than a turbulent one. Internal auditor exhibits supremacy with his systematic and a well laid out approach, which offers him clarity and edge in whatever he undertakes. There is no limit on his accompli

Alignment of Excise Classification Code and Products under Cost Audit

CMA Navneet Kr Jain 01 July 2011 at 13:37

Alignment of Excise Classification Code and products under Cost Audit (under Sec 233B) of Companies Act (year 2011-12 onwards) Amendment to Notification dtd 3rd May, 2011 Sir, In continuation of our earlier updates on cost audit, we would like

FAQ's on Appointment of Cost Auditor by Companies

sunil 11 May 2011 at 13:52

Frequently Asked Questions on Appointment of Cost Auditor by Companies Q.1 Has the Government prescribed a new procedure for appointment of cost auditor by the companies? Ans. Yes. The procedure has been modified by the Cost Audit Branch

Few points on Internal audit

Raghavendra 28 April 2011 at 12:04

1) A plan once prepared should be continuously reviewed by the internal auditor to identify any modifications required to bring the same in line with the changes, if any, in the audit environment. However, any major modification to the internal audi

Auditor's Nightmare

Dilip K Raina 25 April 2011 at 15:16

Believe it or not, with every breaking news with respect to fraud/misappropriation/or untenable and unreasonable demands of different government authorities, the most affected and harassed person, now a days, is the auditor or the auditing firm who

Critical analysis of section 44AD

PINKESH JAIN 08 March 2011 at 10:50

Critical Analysis of New Section 44AD (inserted by Finance (No 2)Act, 2010) Till the 31st March,2010, the Chapter Profit & gains of Small business on Presumptive Basis was having majorly 3 sections for Indian entities. Section 44AD civil construct

Audit Sampling (boon to auditors)

CA Yashwanth Lathore 07 March 2011 at 11:12

Introduction: Traditionally, an audit was conducted to check all the transactions without any exception in the programme. Obviously it was a wasteful exercise since the time and cost involved in it and the result obtained out of it was not that much