Audit Articles

Management Representation Letter (MRL) for Audit

Posted by CA Ramanujan Sharma 26 September 2022 10328 Views

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

Posted by Neethi V. Kannanth 20 September 2022 285807 Views

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

Posted by Neethi V. Kannanth 20 September 2022 19803 Views

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

Posted by Neethi V. Kannanth 13 September 2022 126196 Views

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

Posted by CA Ramanujan Sharma 05 September 2022 4316 Views

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

Posted by CA Amrita Chattopadhyay 20 August 2022 13231 Views

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

Posted by CS CHARU VINAYAK 20 July 2022 29592 Views

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?

Posted by CA Amrita Chattopadhyay 02 July 2022 5006 Views

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.

Why should auditor of financial statement be concerned about cyber security?

Posted by CA Amrita Chattopadhyay 08 June 2022 4921 Views

With the fast-changing business environment and the fast-paced change in the technology and the way business is being conducted, it becomes important for the auditors to also keep in pace with the rapid changes taking place and adopt technology while conducting audits.

Appointment of Cost Auditor - Quick Process

Posted by CS Lalit Rajput 23 May 2022 8865 Views

The primary goal of cost audit is to ensure that the cost relating to production and sales encompass only those factors which are imperative and that those factors are utilized most effectively.