Audit Articles

Independent Auditor & Trustworthy Audit

Satvir Singh 25 June 2014 at 12:37

Independence is the bedrock of audit profession. Only an independent auditor can expected to be skeptical, objective & unbiased. To strengthen the independence of auditors, new Companies Act, 2013 contains provisions related to Auditor Rotation. Only

Basics of Audit, New Concepts

CA Satish Badve 02 June 2014 at 11:14

All type of audits like bank audit, company audit, internal audit,statutory audit requires to some extend applying of same principles of audits,and audit techniques. BEFORE AUDIT: As observed, 80% of the work of audit in a CA Firm has repetit

Secretarial Audit - An Overview

Guest 31 May 2014 at 11:53

Introduction: Secretarial Audit is a process to check compliance with the provisions of various laws and rules/regulations/procedures, maintenance of books, records etc., by an independent professional to ensure that the company has complied with th

Status of CARR and CAR, 2011 w.e.f. 1-Apr-2014

Girish HS 03 April 2014 at 11:57

The MCA has notified Section 148 of The Companies Act, 2013 regarding maintenance of Cost Accounts / Cost Audit on 26th March 2014, to be effective from 1st April 2014. The MCA however has not notified Final Rules under Section 148 rela

Audit of Banks with the help of Finacle - Segment 2

Pranav Vijay Pandya 26 March 2014 at 12:32

Hello everyone! Since the Bank Audit season is around the corner, I thought it to be appropriate to come up with another article regarding Audit of Banks having Finacle as their CBS platform. This ar

Payment of Term Deposit with mandate revised guidelines

RAM KUMAR GUPTA 20 March 2014 at 11:51

PAYMENT TO EITHER OR SURVIVOR IN DEPOSITS OF BANK-REVISED GUIDELINES OF RESERVE BANK OF INDIAMy purpose to write this article is to make, the people at large, aware of the changes made by Reserve Bank of India which have material impact on their deci

Guest Auditor leveraging your organisation Talent

satya narayana 19 March 2014 at 11:24

GUEST AUDITORS LEVERAGING ORGANIZATIONS TALENT1GUEST AUDITOR INTRODUCTION The concept of Guest Auditor is prevailing in some of the companies. The advantage

Caro and its clauses which needs reporting by auditor

vipin verma 12 March 2014 at 11:43

The central government come out with these extra reporting requirements to ensure that the auditor should check and report on the matters mentioned in CARO for ensuring smooth working of company.Co

Provision of Companies Act, 2013 relating to Auditor

Karan Domadia 10 March 2014 at 12:41

Provision Of Companies Act 2013 relating to Auditor. INTRODUCTION There is a huge tremendous Change in new Provisions under the Companies Act, 2013 with respect to Auditors as compared to the old Companies Act, 1956. The new Act in

How to improve Bank Audit Appointment System?

CA Nitesh Kumar More 05 March 2014 at 13:21

PRESENT APPOINTMENT SYSTEM: A) Every year, ICAI forward the Bank Branch Auditors Panel to Reserve Bank of India. The said panel was classified into following three lists by RBI:- i. List of auditors stationed at cooling period (applicable to