Audit Articles

Wake up call! 30th September 2015!

Posted by Kunal R. Sarpal 11 September 2015 25888 Views

Wake up call! 30th September 2015!File Foreign Assets and Liabilities Return (FLA Return) with RBIWhat is it?An Annual return on the Foreign Assets and Liabilities of the Company, notified under FEMA 1999. Return to be filed under A.P. (DIR series) a

Can we visualise an Indian Multinational Firm of Chartered Accountants?

Posted by Mahavir Kapshe 07 September 2015 12754 Views

Whether needed ?It is need of the society to have �ONE STOP SOLUTIONS� with expert level, quality services equipped with international exposure and technology to help businesses, add to ease of doing business, provide inputs to the Busine

Unconventional internal audits - Admin processes

Posted by Tulasi S Sastri 07 September 2015 10740 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 Report 2015 - is it a nightmare or a labor-pain?

Posted by P.R. Sethuraman 20 August 2015 19044 Views

The auditing community had really gone through a rough and tough time in the form of �labor pain� in drafting the audit report under section 143 (3) of the Companies Act 2013 for the financial year ended march 2015 due to last minute rush

The consolidated audit report under companies act 2013 (The Devil lies in Detail)

Posted by P.R. Sethuraman 07 August 2015 19481 Views

As per the Guidance Note of the ICAI, �The Council of the Institute of Chartered Accountants of India has issued Accounting Standard (AS) 21 'Consolidated Financial Statements' which lays down principles and procedures for preparation a

Difference between audit procedure & audit technique

Posted by ASHWIN 31 July 2015 46684 Views

Audit Procedure is something an auditor does or should do in order to do audit.Audit Technique means how the Audit procedure is conducted.Audit procedure for audit of Receivables may be as follows Vouch the Credit Sales Transaction; Vouch for payment

Should statutory auditors attend AGM compulsorily?

Posted by Amitav Ganguly 24 July 2015 23750 Views

PREAMBLEThe Company jurisprudence in India enshrines statutory auditors who audit the accounts of a company as representatives of the shareholders who appoint them at every Annual General meeting {AGM} to look after the interest of the shareholders.I

Unconventional internal audits - Litigation process

Posted by Tulasi S Sastri 04 July 2015 12684 Views

Audit under banking environment

Posted by CA. Atul Khurana 23 June 2015 8209 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 55002 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