Audit Articles

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

Basics of Risk Assessment

Hemang Doshi 19 January 2016 at 10:49

RISK ASSESSMENT - Basic Concepts Million Dollar Question: What is RISK? The reason why I refer it as a million dollar question lies indefinition(s) of term �RISK�. The term �RISK� has been defined in multiple ways and it can b

CARO 2015: A Student's Guide

Tony John 18 January 2016 at 10:53

Section 143(11) of the Companies Act, 2013 states that the Central Government may order for the inclusion of a statement on specified matters in the Auditor�s Report for specified class or description of companies. Hence CARO 2015 has been issu

Internal Audit - A brief introduction

Akshay 18 January 2016 at 10:53

INTERNAL AUDITDefinition - • "Preface to the Standards on Internal Audit" issued by ICAI defines "Internal Audit" as follows: 'An independent management function, which involves a continuous and critical appraisal of the functioning of an entity with