Audit Articles

ICAI COVID-19 Advisory on Finalisation and audit of Accounts

P.R. Sethuraman 04 May 2020 at 09:55

By this time, when the Accounting and auditing community are busy with the finalization of financial statements for the year ended 2020, they might have gone through The ICAI ACCOUNTING & AUDITING ADVISORY Impact of Coronavirus on Financial Reporting and the Auditors Consideration.

Bank Branch Statutory Audit from Remote Location due to COVID 19

CA Satish Badve 01 May 2020 at 10:32

Bank Branch Statutory Audit from Remote Location due to COVID 19

Reliefs by RBI in Bank Branch Audit due to COVID-19

CA Pooja Dhoot 30 April 2020 at 10:22

Recent reliefs by RBI in Bank Branch Audit due to COVID-19. The Reserve Bank of India has brought 3 major circulars in form of COVID-19 regulatory package.

Business Continuity Plan amidst COVID-19 outbreak

CA ANILKUMAR B.COM FCA DISA 15 April 2020 at 10:53

In this crunch time, we should realize now, how vital it is, the implementation of healthy BUSINESS CONTINUITY PLAN (BCP) and DISASTER RECOVERY PLAN(DRP).

Bank Audit: Recent Changes and Key Aspects

CA Kushal Soni 13 April 2020 at 11:03

Bank audit is one of the most critical functions auditors perform every year. Bank Audit plays an important role in promoting confidence in the financial information provided by banks to various stakeholders. Here are the key changes in Bank Audit due to COVID-19 outbreak.

Internal Audit of Sections(Segments) of Electric Distrubution Co.(EDC)

CA Satish Badve 06 April 2020 at 12:18

Basics on Internal Audit of Sections(Segment) Electric Distribution Company (EDC)An EDC undertakes their operations through various segments these segments may ..

Inventory Verification Issues Due to COVID 19

CA Satish Badve 31 March 2020 at 10:45

Inventory Verification is undertaken by the companies at the year-end. Due to the outbreak of the COVID-19, the inventory verification process of various companies has been affected. Here is how the same can be dealt with.

MOC - Memorandum of Changes

Rahul ojha 31 March 2020 at 10:20

MOC- MEMORANDUM OF CHANGES, more often referred to as MOC is an important document enclosed with the Bank Audit Report whenever the Auditor observes significant issues affecting the Financial Statements of the Bank.

COVID-19 Impact- ICAI Advisory on Auditing and Accounting

Suhasini 27 March 2020 at 12:30

Impact of Corona Virus on Financial ReportingCoronavirus (COVID-19) Impact on Financial Reporting – Accounting Year Ending March 31, 2020ICAI is concerned..

Audit/Certificate on Utilization of Govt Grant/Aid/Funds

CA Satish Badve 26 March 2020 at 10:02

The Utilization Certificate and audit of utilization is required and asked by the authority Govt, Semi-Govt,Trust etc. This certificate is asked from Independent Chartered Accountants not related in any way to the Utilization entity.