Audit Articles

Tax Audit under sec 44AB of the Income Tax Act

Soumya Laha 17 August 2017 at 11:22

Tax Audit limit of Rs 1 crore has been increased to Rs 5 crore with effect from AY 2020-21 (FY 2019-20) if the taxpayer's cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer's cash payments are limited to 5% of the aggregate payments.

Innovation in Finance and Audit

Saumit Patki 31 July 2017 at 10:58

The article throws light on modern technologies in Finance and audit sector.

Role of Key Audit matters

P.R. Sethuraman 26 July 2017 at 10:54

Role of key audit matters (KAM) (SA 101)

Internal Audit in India

Shekhar Gupta 04 July 2017 at 11:05

Internal Auditing is the evaluation of organizations activities and operations to bring in efficiency add value and improve organizations operations.

Demonetization - Additional audit procedures

CA Amrita Chattopadhyay 08 June 2017 at 11:33

The objective of demonetization is to prevent the funding of terrorism as well as to crack down on black money in the country.

An overview : Internal Financial Controls

Shreya Garg 29 May 2017 at 11:12

IFCs made easy

Auditor's/ Management perspective - Equity Investments per Ind AS

CA Anuj Agrawal 04 May 2017 at 11:07

After the applicability of Ind-As in India the situation specific to the treatment of Equity Investments will be different and it will eventually change the who..

Critical issue - Removal of auditor

CS Divesh Goyal 04 May 2017 at 11:07

The procedure for removal of auditors is given in sub-section (1) of Section 140 of the Act.

Analysis on branch auditor

CS Divesh Goyal 02 May 2017 at 10:52

Interpretation/ procedure for appointment of branch auditor or audit of branch under Companies Act, 2013

Breach of Covenants of a Loan - 'Classification change' under Ind AS

CA Anuj Agrawal 29 April 2017 at 12:05

Almost every loan agreement will be carrying some of the terms and conditions that are required to be fulfilled by a borrower to keep that loan continue as per ..