Audit Articles

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.

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

Neethi V. Kannanth 27 January 2022 at 16:19

In continuity with the series of articles on tax audit, let us discuss clause 15 to clause 20 of Form 3CD in detail with this article.

All about Tax Audit and Form 3CD (Part-2)

Neethi V. Kannanth 21 January 2022 at 13:15

In this article, the author discusses about Form 3CD from Clause 1 to 14 in detail.

All About Tax Audit and Form 3CD (Part-1)

Neethi V. Kannanth 20 January 2022 at 09:32

There are various kinds of audits being conducted under different laws such as company audit /statutory audit conducted under company law provisions, cost audit, stock audit etc. Similarly, income tax law also mandates an audit called 'Tax Audit'.

Concept of Virtual Audits

Tanuj Chandra Saxenaa 09 January 2022 at 09:13

The virtual audit is becoming popular amongst organizations due to fast advances in information technology. Businesses already include high-tech strategies that permit the audit teams to receive and share data, conduct interviews, and also make observations with entities all over the world.