Audit Articles

Positioning of internal audit in corporate framework

CA. Atul Khurana 15 June 2015 at 11:44

CONTENTS: Introduction Scope Internal Audit in corporate framework Principles of Internal Audit ICAI�s Standards on internal audit Internal Audit process Benefits ConclusionIntroduction: Int

Rephasement of repayment schedule vs. area of fraud

Rahul Gupta 02 June 2015 at 10:32

All of us are known to Concurrent Audit of Banks. The one of the key area of Concurrent Audit is to verify the correctness and to report the matters relating to Loans & Advances. Every Bank Official and Higher Authorities are interested to know a

Types of Internal Audit

CA.Mathew Jacob 01 June 2015 at 10:59

Types of Internal AuditWe all are quiet familiar with Internal Audits. Let me now brief you about the different types of internal audits.Information Systems Audit: Information Systems Audit is conducted to ensure proper functioning of the information

Going concern & importance of continuity management

CA Amrita Chattopadhyay 15 May 2015 at 10:54

Introduction The financial statements of an organization are prepared based on certain fundamental accounting assumptions. These assumptions may not be specifically stated, but their use and acce

Exemptions for CARO

CA Sripriya K 25 April 2015 at 11:43

The previous and the present CARO is placed side by side for easy reference. Please note that CARO will not be applicable for certain categories of Companies as stated in the order. Companies (Auditor's Report) Order, 2003 Compan

Game changer tips for audit paper

CA Ravi Taori 23 April 2015 at 14:43

GAME CHANGER TIPS FOR AUDIT PAPER(Improve marks by 20-30%) How you approach audit paper is very important, follow these to excel in exams. 1. First thing is to select questions & do ranking (determining solving sequence), it may be 3rd and then 6

What is Internal Audit?

CA Tanmay srivastava 22 April 2015 at 17:23

Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organizations operations. It helps an organization accomplish its objectives by bringing systematic , disciplined approach

CARO 2015

Aditya Maheshwari 13 April 2015 at 11:01

The MCA has issued Companies (Auditors Report) Order, 2015 vide order dated 10th April, 2015. It shall come into force on the date of its publication in the Official Gazette. The matters which on which reporing are required under CARO 2015 Aud

Auditors report for 2014-15- FAQ

CA Sripriya K 10 April 2015 at 10:32

There have been several mails and calls seeking clarifications on the Auditors Report to be issued for the period ended March 31, 2015. I summarise the issues as under in the form of an FAQ. What is the present ( as at April 9, 2015 ) position on Aud

Penalties: Cost records and cost audit non-compliance

CMA Navneet Kr Jain 06 April 2015 at 10:11

Penalties For Non Compliance With Cost Records And Cost Audit Provisions For 2014-15 OnwardsCMA Navneet Kumar JainFCMA, MBA, LL.B., M.COM, PGDTL, LIII, AIIISLA Normally, the companies have casual approach towards compliance with regard to the Cost