Audit Articles

Standards on Auditing - Not a choice but a compulsion

Vivek Agarwal 26 April 2016 at 11:55

What are Auditing Standards?The Standards on Auditing is an area which requires greater focus of CA in practice as well as our administrative bodies who are updating our members. The Companies Act 2013 has discussed it in detail which was absent in e

Transparency required in allotment of PSU and Bank Audit

CA Gopal Rathi 23 April 2016 at 11:59

Dear CA friends, Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF). There is

Ind AS12 on income taxes

P.R. Sethuraman 20 April 2016 at 11:52

What is tax expense?Tax expense (income) is the aggregate amount included for determination of profit and loss in respect of current tax and deferred Tax. Income tax relating to items charged or credited to other comprehensive income/equity is charge

Guidelines/Audit Programe for Bank Audits

Anmol 24 March 2016 at 18:34

Audit Program for Concurrent Audit Deposits/Accounting Opening/KYC All the documents required for opening of account as mention in account opening form(AOFs) should be obtained from the party and updated in the system

Combine Technology-Based Auditing Tools with BI Tools to Achieve Swift, Accurate Results

Arbuda Dave 24 March 2016 at 18:33

Whether internal or external, professional auditors have a profound responsibility to, and impact on, an organization. Auditing is required in every organization to ensure industry and governmental compliance and to assure management that policies an

IND-AS, Indian Accounting Standards

Shubham Gupta 22 March 2016 at 11:17

Indian Accounting StandardsOBJECTIVE The basic objective of Accounting Standards is to remove variations in the treatment of several accounting aspects and to bring about standardization in presentation. They intent to harmonize the diverse accountin

Scope in Internal Audit

Shubham Gupta 21 March 2016 at 10:38

Internal AuditAudit technique underlying internal auditing is derived from management consulting and public accounting professions, the theory of internal auditing was conceived primarily by Lawrence Sawyer (1911-2002), often referred to as "the

Ind AS 110 on Consolidated Financial Statements (CFSs)

P.R. Sethuraman 07 March 2016 at 10:56

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

Procedure for bank branch audit

CA Darshan 04 March 2016 at 11:33

SOME IMPORTANT FACTS � CONCEPTS � AUDIT PROCEDURE IN BANKINGExecutive Summary: - Banking sector is the backbone of the economy. But now a days it is a major weak sector. What would be the probable reason for the same, i wanted to highligh

Companies (Auditor's Report) Order, 2015.- applicability

Arpit verma 20 January 2016 at 13:53

Introduction Means Companies (Auditor's Report) Order, 2015. It describes the matter on which statutory auditors has to report in their Audit Report. Applicable From 10th April 2015.Audit Report Practically � (1st part) Main Audit Repor