The revised Auditing Standard introduced for SA 570 Going concern is for the audits of financial statements for the periods beginning on or after 01st April, 2017.Significant changes introduced in the standard:ScopeThe earlier standard which was effe
Employee Benefits include and cover all forms of consideration given by an entity in exchange for service rendered by employees. Pictorially, it is mapped out below. Post-Employment Benefits are employee benefits (other than termination benefits
Audit of books of educational institutions i.e. Schools, Colleges, Universities etc is known as audit of educational institutions. This type of audit comes under the category of special audit.Generally, the procedures for auditing is same like other
Major changes were made in CA Act 1949 in year 2006 to improve quality of services given & punish CAs who indulges in professional misconduct. One of the very important change was introduction of Chapter VIIA, Sec 28A to 28D dealt with very power
When an enterprise engages in an audit process, it must have access to data from numerous systems and sources. This data will play a crucial role in gathering facts, analyzing processes, getting to the heart of issues and problems, uncovering and mit
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
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
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
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
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
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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