Audit Articles
ICAI's advisory on statutory bank branch audit
07 May 2020
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There is a sea change that is expected in the way businesses (including banking) is conducted and the way the audit profession would require to nurture itself to adopt to the changing environment.
ICAI COVID-19 Advisory on Finalisation and audit of Accounts
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.
Integrity Of Auditor - PMC Bank Crisis
Few days ago some of you may have heard news saying that RBI has imposed restrictions of withdrawal on PMC bank holders. The RBI restricted to withdraw only Rs. 1,000 for whole 6 months. All the monies of account holders is at stake.
Bank Audit: Recent Changes and Key Aspects
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.
Ind AS 110 on Consolidated Financial Statements (CFSs)
Ind. AS 110 on Consolidated Financial Statements (CFSs) Before the commencement of the Companies Act 2013, Consolidated Financial Statements are the SEBI requirements for the Listed Companies. But, the Companies Act 2013 mandates
Inventory Verification Issues Due to COVID 19
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.
Audit/Certificate on Utilization of Govt Grant/Aid/Funds
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.
GST Testing under Internal Audit
We are almost at the end of statutory audit season and many of us will be working in internal audits from now. Statutory compliance will be the compulsory component in the scope. We will be covering basic reconciliations as a part of GST testing.
SEBI circular on the resignation of statutory auditors (with Format of Information)
SEBI circular on the resignation of statutory auditors
What's new in CARO 2020?
Company auditor's report order (CARO) 2020
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