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Audit Articles


Unconventional internal audits - Litigation process

Posted by Tulasi S Sastri 04 July 2015 12672 Views

Internal Audit has been gaining importance over the years. This has been due to:a. Statutory requirements including recent ones through the Companies Act 2013, like mandatory appointment of an Internal Auditor in certain cases, importance for Interna



Audit under banking environment

Posted by CA. Atul Khurana 23 June 2015 8193 Views

Banking sector: The IT saga in Indian banking commenced from the mid-eighties of the twentieth century when the RESERVE BANK took itself the task of promoting automation in banking to i



Importance of written representation in Audit

Posted by CA Amrita Chattopadhyay 19 June 2015 54977 Views

IMPORTANCE OF WRITTEN REPRESENTATION IN AN AUDIT IntroductionCompanies Act 2013 has increased the responsibility of the auditor to manifold. The auditor has to take into consideration many factors while issuing report to the members of the company.As



History of tax audit

Posted by CA Mayank Khatri 18 June 2015 38126 Views

Tax audit was introduced in the year 1984. The main purpose was to ensure the accuracy of books of accounts maintained, which forms the basis of computation of income of the assesse The onerous responsibility was casted on char



Reporting under cost audit aligned with eight digit central excise tariff code

Posted by CMA Navneet Kr Jain 16 June 2015 14814 Views

Reporting Under Cost Audit aligned with Eight Digit Central Excise Tariff Code for Manufacturing Sector From 2014-15India is a country which introduced the concept of Cost Audits for the corporates. Till 2011, the cost audit report formats were neve



Positioning of internal audit in corporate framework

Posted by CA. Atul Khurana 15 June 2015 10094 Views

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

Posted by Rahul Gupta 02 June 2015 100788 Views

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

Posted by CA.Mathew Jacob 01 June 2015 27329 Views

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

Posted by CA Amrita Chattopadhyay 15 May 2015 15172 Views

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

Posted by CA Sripriya K 25 April 2015 30916 Views

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




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