Audit Articles

Corporate Governance Review/Audit

Gopinath Vedula 04 October 2022 at 16:14

For the purpose of recapitulation of some of the important aspects, an effort is made to undertake objective review of the various aspects of modern CG which might also serve as a checklist.

Checklist for Statutory Audit - Documents to be obtained

CA Ramanujan Sharma 27 September 2022 at 08:49

In this article author has tried to brief the procedures to be followed while conducting a statutory audit in a brief manner.

Management Representation Letter (MRL) for Audit

CA Ramanujan Sharma 26 September 2022 at 08:42

In this article, the author has shared the format of the Management Representation Letter or Written Representation (MRL/WR) to be obtained from the management during various professional engagements

Qualifications and Disqualification of the Auditor

Neethi V. Kannanth 20 September 2022 at 13:58

There are certain criteria set for a person to be appointed as an auditor of the company. The same is discussed in this article. Read on to know more.

Removal and Resignation of Auditor

Neethi V. Kannanth 20 September 2022 at 08:53

An auditor appointed under section 139 of the Companies Act, 2013 cannot be removed from his office before the expiry of his term.

Liabilities of the Auditor under Companies Act 2013

Neethi V. Kannanth 13 September 2022 at 08:59

When a person who has engaged an auditor, has suffered some loss, damage or detriment due to non-performance of duty by such auditor in accordance with the accepted professional standards, it shall give rise to the liability of the auditor.

Revenue Leakage Audit of Banks

CA Ramanujan Sharma 05 September 2022 at 08:49

In this article author has tried to throw some light on the procedure to be followed while conducting Revenue Leakage audit in a brief manner.

Identification of Green flags in Audit of Financial Statement

CA Amrita Chattopadhyay 20 August 2022 at 16:32

While conducting the audit of financial statement and fraud investigation it is imperative for the auditor to focus his attention not only for the RED Flags but also to draw his attention towards the green flags in the financial statements and the operations in the organization.

Company Auditor: Role and Responsibilities

CS CHARU VINAYAK 20 July 2022 at 09:00

The present paper explores the role and responsibilities of the company auditor. This will provide valuable information to the companies and the auditors. The audit is also of value to people doing business with the company because it helps them to assess the reliability of the company's stated financial position.

Why interview skills are important during audit?

CA Amrita Chattopadhyay 02 July 2022 at 12:38

As an auditor who needs to conduct the audit as per the auditing standards prescribed by ICAI, it is important for the auditor to have proper planning of the audit, execution and collecting of evidences as per the audit plan and reporting the findings to the management or Those Charged with Governance.