Audit Articles

Internal Audit as per Companies Act 2013

Posted by CS Mallika Gupta 15 October 2016 403074 Views

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

Posted by P.R. Sethuraman 03 October 2016 172514 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

Casual vacancy of auditor

Posted by CS Divesh Goyal 26 September 2016 7262 Views

Detailed analysis on casual vacancy of an auditor

Audit by department: Justified or not?

Posted by Pradeep Jain 22 September 2016 5670 Views

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

Posted by P.R. Sethuraman 14 September 2016 28214 Views

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

Posted by Nidhi 02 September 2016 9403 Views

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

Posted by CA Amrita Chattopadhyay 10 August 2016 29285 Views

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

Posted by P.R. Sethuraman 09 July 2016 18818 Views

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...

Internal Financial Controls - Practical approach in evaluating a Control

Posted by CA.Rajeev Joshi (CA,CISA,DISA) 27 June 2016 11394 Views

In current article we delve on the aspect of 'Auditors Role' and take one practical example of evaluating the control which influences the �Financial Reporting� (FR).

Develop & Establish Internal Financial Controls

Posted by CA.Rajeev Joshi (CA,CISA,DISA) 22 June 2016 6659 Views

The intention of this article is to embark upon a journey, which in its course continues to contribute series of articles in continuity thereby exploring the nuisance of the professional domain. See you soon in my next article in the series on IFC.