Audit Articles

Dont Fear Tax Audit, Know the Benefits Instead!

Posted by CA Chanchal Jain 13 March 2021 11746 Views

Tax Audit is a reporting of transactions keeping in mind different sections of Income Tax Act (ITA). The provision of tax audit is reported in Form 3CD which is prescribed under Rule 6G of the Income Tax Rules, 1962.

Tax Audit Report and Forms 3CA, 3CB, 3CD, and 3CE - A Comprehensive Analysis

Posted by Shweta 28 February 2021 27372 Views

All about the Tax Audit Report and Forms 3CA, 3CB, 3CD, and 3CE including its particulars, objectives, due date, and penalty, etc.

Tax Audit u/s 44AB limit increased upto 5 Cr. w.e.f. AY 20-21- Is it applicable to all businesses?

Posted by Soumya Laha 28 February 2021 47167 Views

Tax Audit U/s 44AB limit has been proposed to increase up to Rs. 5Cr. from AY 2020-2021 for MSME sector in Union Budget 2020 but several conditions apply.

All you need to know about Audit Risks

Posted by Namrata 27 February 2021 7208 Views

Audit risk is a risk that an auditor will not detect errors or fraud while examining the information collected and a material misstatement may go undetected.

Note on Management Representation Letter (MRL)

Posted by CA Satish Badve 24 February 2021 74362 Views

An MRL is issued by the client (Auditee) to the auditor in writing as a part of Audit Evidence. This document during the audit clarifies the separation of responsibilities of the auditor and auditee (management).

Remuneration, Powers and Duties of Auditors

Posted by DEEPAK SETH 21 February 2021 11198 Views

The remuneration of the auditor of a company shall be fixed in its general meeting or in such manner as may be determined therein.

Data Analysis In Internal Audit - Payroll

Posted by CA Amrita Chattopadhyay 02 February 2021 5600 Views

It is very important to establish adequate controls in the payroll process. Further, it is also important to know that the controls established are working adequately.

AUDIT UNDER COMPANIES ACT,1956

Posted by Jaideep 30 January 2021 208048 Views

AN OVERVIEW RELATING TO AUDIT UNDER THE COMPANIES ACT, 1956 Audit of Annual Accounts of a company is compulsory and is indispensable part of incorporated business. Those who carry on business with the other people’s money have to be accountab

Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

Posted by P.R. Sethuraman 30 January 2021 172518 Views

The purpose of the article is limited to the topic on Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

Expanding Limits of Internal Audit - IA in Corporate Governance

Posted by Gayathri R 29 January 2021 3213 Views

Corporate Governance means the credibility, accountability of an entity to its stakeholders. Corporate governance is the keyword in any organization as it decides the rise and fall on an entity.