Audit Articles

History of tax audit

Posted by CA Mayank Khatri 18 June 2015 38158 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 14830 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 10100 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 100829 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 27352 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 15195 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

Game changer tips for audit paper

Posted by CA Ravi Taori 23 April 2015 22828 Views

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?

Posted by CA Tanmay srivastava 22 April 2015 28808 Views

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

Posted by Aditya Maheshwari 13 April 2015 26937 Views

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

Posted by CA Sripriya K 10 April 2015 41161 Views

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