Audit Articles

Review Of Internal Financial Control For Bank Branch Audit

Posted by CA Amrita Chattopadhyay 26 September 2021 23101 Views

The branches that are required to be covered for reporting on Internal Financial Control will be determined and scoped in by the Statutory Central Auditors.

SA 570 - Going Concern

Posted by Neethi V. Kannanth 06 September 2021 46669 Views

The general purpose financial statements of an entity are prepared using the going concern basis of accounting unless the management intends to liquidate or to cease the operations or there is no realistic alternative to do so.

Adopting Artificial Intelligence By Auditors - Need Of The Hour

Posted by CA Amrita Chattopadhyay 04 September 2021 4828 Views

It's time for the auditing fraternity to get out of their comfort zone of using Excel & MS office and adopt and experiment with newer technologies and scale up their business.

Tax Audit in case of a Person Carrying on both Business and Profession

Posted by CA.R.S.KALRA 04 September 2021 16372 Views

A person who is a specified professional cannot opt for Section 44AD of the Income Tax Act, but there is no bar for such persons to opt for Section 44ADA on their professional income.

Beneish M Model - A Tool Detection Of Fraud in Financial Statements

Posted by Poojitha Raam Vinay

04 September 2021 14899 Views

Beneish Model is a statistical model created by Professor Messod D. It is a model that studies the trend of the organisation through various ratios. This model is based on eight financial ratios.

ICSI - Auditing Standards

Posted by CS Divesh Goyal 06 August 2021 2288 Views

The aim of the Auditing Standards is to support a CS in developing auditing acumen, techniques and tools, to inculcate best auditing practices, and to promote standardization and uniformity.

How can an Auditor report a disqualification of a director in the Audit Report?

Posted by CS Divesh Goyal 04 August 2021 8462 Views

It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.

Is Auditor Certificate mandatory for DPT-3?

Posted by CS Divesh Goyal 04 August 2021 20365 Views

Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.

PAS-6: Reconciliation of Share Capital - Audit Report

Posted by CS Divesh Goyal 03 August 2021 2949 Views

Every unlisted public company shall submit Form PAS-6 to the Registrar with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 within 60 days from the conclusion of each half-year.

Management Services that are not allowed to be provided by Statutory Auditors

Posted by CS Divesh Goyal 28 July 2021 7582 Views

Discussing the Restricted Services and Management Services that are not allowed to be provided by Statutory Auditors under the Companies Act, 2013 and the Chartered Accountants Act, 1949.