Audit Articles

Penalties: Cost records and cost audit non-compliance

Posted by CMA Navneet Kr Jain 06 April 2015 36162 Views

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

How to conduct octroi audit?

Posted by Pranjul Mittal 01 April 2015 8976 Views

Octroi audit is basically conducted to check whether the amt of audit paid by the payer or claimed by the customer/retailer/distributor from the com

Bank audit 2015 - Deposits - The peripheral aspects

Posted by Amresh 01 April 2015 18617 Views

When we go to audit the banking industry, we came to know which of the Banks must be treated with respect and which are in low water ,it simply add our responsibility to take cognizance of peripheral area of DEPOSITS. Deposits are peripheral areas o

Ready referencer on bank audit- 2015

Posted by CA Amresh Vashisht 26 March 2015 21585 Views

The Institute of Chartered Accountants has already issued 660 Page Guidance Note Bank Statutory Audit 2015.The publication is a regular annual publication with the foreword note of new President in Office. This is the Tenth Edition. The first Edition

Tendering audit services is a menace to the CA fraternity

Posted by CA Amresh Vashisht 26 March 2015 11929 Views

The latest quote price of Rs 2 per month per panchayat at Madhya Pradesh has once again shattered the profession heart & soul. Thank GOD this time, its double to 2012 rates, where the lowest tender for primary school audits was Re 1 per sc

Services which can be rendered by the auditors

Posted by CS Divesh Goyal 25 February 2015 16656 Views

As per Provisions of Section- 144 of Companies Act, 2013, A Statutory Auditor of company cant provide the following below mentioned services to followings: Services which a Statutory Auditor cant provide directly or indirectly to above

Bait Money check with respect to Concurrent Audit of Banks

Posted by Sahil Jolly 04 February 2015 9763 Views

Bait Money check with respect to Concurrent Audit of Banks The concept of Bait Money!Bait Money is a security feature used by various Banks/Bank branches. As its name suggests, this money kept with the Banks/Bank branches helps in tr

Control Self-Assessment

Posted by Hari Iyer CA, MBA, CISA, FCPA 03 February 2015 15091 Views

BackgroundControl Self-Assessment (CSA) is a technique that was originally developed by Gulf Canada in 1987. In March 2000, the European Commission approved a white paper on CSA. In the United States when the Sarbanes-Oxley Act was implemented in 200

Checklist and universal audit tool for analysing performances of small, medium and large businesses

Posted by CA ANURADHA BISWAS 29 January 2015 22393 Views

Checklist and universal Audit Tool for Analysing performances of Small, Medium and Large Businesses:- Checklist in its basic from is a simple to do list and an advanced checklist acts asa schedule for businesses. This schedule will hel

Implications of New Cost Audit Rules on CMA's

Posted by Kapil Kaushik 23 January 2015 28647 Views

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Cost Records and Audit) Rules, 201