Audit Articles

Section 144 - A new avatar in the Companies Act On 'Auditor not to render certain services'

P.R. Sethuraman 01 December 2016 at 11:41

Section 144 of the Indian Penal Code is normally promulgated to avoid unlawful assembly of people with attempt to cause public disturbance. It is not on normal ..

Change - Law needs to move with time

P.R. Sethuraman 01 November 2016 at 16:09

The purpose of the article is to deal with on the consequential changes warranted on rules of law and regulatory requirements on business/ industrial domain

Internal Audit as per Companies Act 2013

CS Mallika Gupta 15 October 2016 at 14:11

As per Section 138 of Companies Act, 2013 Internal Audit has been mandated upon certain classes of companies. Such companies are required to appoint a person as an Internal Auditor who must be CA or Cost Accountant or professional as prescribed. Companies are subject to conduct an internal audit as per there size and requirement.

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

P.R. Sethuraman 03 October 2016 at 10:47

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

Casual vacancy of auditor

CS Divesh Goyal 26 September 2016 at 10:25

Detailed analysis on casual vacancy of an auditor

Audit by department: Justified or not?

Pradeep Jain 22 September 2016 at 10:46

On one hand the courts have understood the pain of the assessees to be assessed by ineligible auditors and on the other hand the government does not want to let..

Internal Financial Control

P.R. Sethuraman 14 September 2016 at 10:39

The first and foremost duty of auditors with regard to Internal Financial Controls over Financial Reporting is to see and get satisfied as to the framework set in place as specified in the Guidance Note and as �declared in Directors

Determining the Acquisition date as per Ind IAS 103 for Consolidated Financial Statements

Nidhi 02 September 2016 at 11:00

The below article gives an overview of the guidance provided by Ind IAS 103 regarding the determination of Acquisition date for any business combination and how it is subject to interpretation.

Importance of communication with management during audit of financial statement

CA Amrita Chattopadhyay 10 August 2016 at 11:13

Since the auditor is required to maintain the audit evidences, the oral communication is needed to be documented.

Forensic Audit - A Modern Day Thrust and Thirst

P.R. Sethuraman 09 July 2016 at 11:29

Forensic Audit-a Modern Day Thrust and ThirstIntroduction: In the recent past, more so in the previous decade, accounting and auditing community witnessed and i..