Audit Articles

Important amendments to IRAC norms for Bank Branch Auditors 2022

CA Mahesh Bansal 05 April 2022 at 14:48

The RBI had issued certain clarifications vide its notification dated 12th Nov 2021 with a purpose to more accurately interpret the extant IRAC norms which we must keep in mind while conducting branch audits this time.

Auditing Social Media

CA Amrita Chattopadhyay 04 April 2022 at 16:54

The social media has emerged as a strong interactive platform and it has started to make a huge positive impact on the society. Almost everyone today has a Face..

Bank audit of working capital loan limits

Kotte Murali Krishna 25 March 2022 at 14:17

The SBA should verify the details of stock statement dated 31st March of 2021 submitted to the bank and the values of drawing power claimed therein with the values reported in audited balance sheet of 31-03-2021

Why is it important to consider cyber risk in risk assessment procedure during audit

CA Amrita Chattopadhyay 05 March 2022 at 11:16

The importance of cyber risk assessment has increased manifold due to the pandemic. Some of the cyber threats which has developed over the last two years during the pandemic were the ransomware where the attack has increased by 150% due to the "Work from home" culture.

Consideration of cyber security controls in the audit program

CA Amrita Chattopadhyay 04 February 2022 at 08:56

This article aids in providing to understand the cyber risk and the audit approach by the auditors to comply with SA 315.

All About Tax Audit and Form 3CD (Part-6)

Neethi V. Kannanth 31 January 2022 at 08:36

This article is the final part of the series on the Tax Audit and Form 3CD and I’ll be discussing clause 32 to 44 through this article.

All About Tax Audit and Form 3CD (Part-5)

Neethi V. Kannanth 29 January 2022 at 08:45

In this article the author is discussing clause 26 to 31 of Form 3CD

All About Tax Audit and Form 3CD (Part-4)

Neethi V. Kannanth 28 January 2022 at 08:53

If you have been following the series of these articles, we have discussed till Clause 20 of Form 3CD. Without further delay, let us discuss Clause 21 to 25 in this article.