Audit Articles

The Anatomy of Controls

Posted by Nishanth 02 January 2014 15684 Views

This was first posted on my website www.theauditschool.com. Every step I take in learning new things about internal controls, audit or risk management, I like to take two steps back to see the basic concepts which I have learnt years back and see

Importance of Internal Audit Report for the Statutory Auditor

Posted by Ca Jai Prakash Agarwal 12 December 2013 56323 Views

Internal Audit report is a very crucial document and if internal audit is carried our fairly, it contains lot of insights and information about the entitys operations. The statutor

Does an Internal Auditor require Industry Specialization?

Posted by Ca Jai Prakash Agarwal 03 December 2013 25536 Views

Internal Audit is a very important function and it is very important for an internal auditor to understand the basic functions of an organisation so as to conclude the internal audit assignment effectively. In case of in-house internal audit departm

MVAT Audit 2013 - Approach & Important Issues

Posted by Guest 27 November 2013 88928 Views

Applicability of audit under MVAT Act, 2002 To whom audit is applicable? As per Section 61(1) of the MVAT Act, 2002, audit is applicable to: A dealer who is liable to pay tax and his turnover, either of sales or purchases, exceeds Rs. 6

Internal Audit and Risk Management

Posted by Ca Jai Prakash Agarwal 23 November 2013 25166 Views

Internal Audit and Risk Management Whether Synonyms or something else. By CA Jai Prakash Agarwal M.Com, LL.B, ACMA, ACA, ACS, DISA (ICAI), DIRM (ICAI), UGC NET What is Risk Management? Risk management once a jargon has become a much kno

Preparing for Government Audit

Posted by Anurag 16 October 2013 22110 Views

EXPENDITURE AUDIT (M99,M07)(N01,N03,N06)(N11) Audit against Rules &Orders(M08) Is expenditure = in conformity with statutory provisions and financial rules and regulations? Functio

Audit Report for CA IPCC

Posted by Anurag 16 October 2013 28523 Views

AUDIT REPORT Draft an illustrative Audit Report u/s 227 of the Companies Act, 1956, with a few qualifications. Annexure u/s 227(4A) is not required. In this situation, we depict a case where the auditor was unable to obtain su

Audit Working Papers - CA IPCC

Posted by Anurag 08 October 2013 42722 Views

Audit Working Papers (M10, N11, M07, and N12) Theme If you havent documented, you havent performed SA 230 Audit Documentation (N08) Utility: Documen

Audit Trail in EDP: Audit CA IPCC

Posted by Anurag 05 October 2013 28702 Views

Audit Trail in EDP (N04) Audit is doable if one can relate one-to-one basis, the original input along with the final output a) In some situations, output is as complete and as detailed as in any manual system. E.g. Detailed calc

Preparation Strategies for Auditing & Assurance - IPCC Paper 6

Posted by Anurag 01 October 2013 141949 Views

Instead of giving you a blanket statement Study hard etc, I though would give you more strategic insights. There is no assurance that the strategy I enumerate would necessarily work for you in the Auditing paper. However given my pas