Audit Articles

Identification of Green flags in Audit of Financial Statement

Posted by CA Amrita Chattopadhyay 20 August 2022 13243 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 29595 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 5016 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 4928 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 26 May 2022 8869 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.

Notices for non-appointment of Cost Auditors for 2017-18 being issued by Cost Audit Branch of MCA

Posted by CMA Navneet Kr Jain 17 May 2022 6097 Views

Though Companies Act mandated the maintenance of Cost Records and Cost Audit for companies fulfilling certain criteria, however, the companies used to ignore the mandate by simply mentioning in the Director's Report and CARO report that Section 148 is not applicable.

Detailed Audit Programme On Important Areas Of Insurance Business

Posted by FCS Deepak Pratap Singh 14 May 2022 4555 Views

As you are aware that an Insurance Company is a company incorporated under provisions of the Companies Act, 1956/2013, licensed under the Insurance Act, 1938 and IRDAI Act,1999.

Discussion on Notice from Cost Audit Department

Posted by CS Divesh Goyal 12 May 2022 3927 Views

In this editorial, author shall discuss the provision, applicability of Cost Audit and Cost Auditor on Companies along with reason of issuance of Notice from the Cost Department.

Audit is completely Risk Free provided we follow the Science and Rules of it

Posted by CA. (Dr.) Rajkumar Adukia 05 May 2022 4150 Views

The penalties and responsibilities of an auditor may seem onerous however it would be incorrect to hold audit as risky. With essential features of auditor like independence, professional skepticism, documentation skills and continuous knowledge upgradation any Chartered Accountant can make a name for himself in the field of Audit profession.