Audit Articles

Secretarial Audit Report And Annual Secretarial Compliance Audit Report

Posted by DEEPAK SETH 21 July 2021 11442 Views

A Secretarial Audit is a part of total compliance management in an organization. It is a compelling instrument for corporate consistency among executives.

Role of auditing in context of Armed Forces

Posted by Bushra Rahman 21 July 2021 8357 Views

The Defence Accounts Department, headed by the Controller General of Defence Accounts is compulsory to carry out an audit of all expenditure and receipts besides accounting and payment functions.

Fighting Fraud: When to use civil and criminal remedies

Posted by M RANGARAMANUJA ACHARYULU 20 July 2021 1625 Views

Whether a company chooses a criminal or civil route to fight fraud will ultimately be a commercial decision and the risks of failing to recover the company's losses must be balanced carefully against the potential costs of seeking recovery.

Analysis on ADT-1 for appointment of first auditor

Posted by CS Tanveer Singh Saluja 07 July 2021 5483 Views

As a good Corporate Governance practice, it is always advisable to file form ADT-1 upon the appointment of the first auditor. This is beneficial from each and every stakeholder's point of view.

Auditing Standard on other Assurance Services

Posted by CA Amrita Chattopadhyay 21 June 2021 2754 Views

One of the areas in which a CA renders services is assurance engagement. Discussing Auditing Standards on Other Assurance Services including Certifications, Projections and Provisional Statements.

Applicability Of Code Of Ethics For Practicing Firms

Posted by CA Amrita Chattopadhyay 08 June 2021 2128 Views

ICAI has issued a revised Code of Ethics 2019 which is applicable from 1st April 2020. The purpose of the Code is to promote an ethical culture in auditing.

Planning of Internal Audit Assignments

Posted by CA. Heet Shah 07 June 2021 7839 Views

An Audit Committee is required to formulate the overall internal audit plan of the company which includes planning the scope, functioning, periodicity, and methodology for conducting the internal audit.

Basics of Audit & Application of Standards on Auditing

Posted by Udit Vyas 01 June 2021 3181 Views

In small to mid-sized firms, audits are carried out by article trainees, new paid audit assistants without properly meeting the Standards for Auditing set out by ICAI. Hence, it is very important to know where to apply these standards and the relevance of such standards.

SA 700 Audit Reporting: Forming an Opinion and Reporting on Financial Statements

Posted by Tanuj Chandra Saxenaa 22 May 2021 3744 Views

SA 700 deals with the responsibility of auditors in forming their opinion on financial statements. This standard also deals with the content and form of the auditor's report that is issued as an outcome of the audit of the financial statements.

Standards on Review Engagements (SREs): SRE 2400 (Revised)

Posted by Tanuj Chandra Saxenaa 22 May 2021 6074 Views

The main purpose of reviewing a financial statement is to allow professionals to report whether anything has caught their attention which causes them to believe that financial statements aren't prepared in all material respect.