Audit Articles
Web Based Audit in Cloud computing era
Last decade saw an evolution of cloud computing in area pertaining to Customer Relationship Management, Accounting and Financial Planning & Analysis. With major emphasis towards data efficiency and accuracy, cloud computing has now become buzz in
Recent Changes in Tax Audit Report
Vide notification no. 33/2014 dated 25.07.2014, CBDT has made amendments in Form 3CD and the same have been made effective for Tax Audit for assessment year 2014-15. Broadly, the changes have been made making Tax Audit Report (TAR) more comprehensive
Procedure for Appointment of Cost Auditor: 2014-15 onward
The enactment of new Companies Act 2013 has brought far reaching changes. On the one hand it has tried to fi
Non Fund Based Credit Facility by Banks
IMPORTANT POINTS FOR LETTER OF CREDIT AND BANK GUARANTEEWHO IS? APPLICANT:The buyer /importer of goods: This person has to make payment of letter of credit to the issuing bank if the documents are in accordance with the terms and conditions of LC.1.
CMAs' Role in Tax Audit
Finance Act, 1984 introduced Section 44AB under Income-tax Act, 1961 w.e.f Assessment Year 1985-86. Under this section, if the total sales / turnover or gross receipts for previous year exceed the prescribed limits then assessee is required to get hi
Open letter to Prime Minister
Respected Prime Minister Sri Narendra Modi Ji, Im a mediocre salaried class always dream to own the things which I aspire or looks around.In the new age mass communica
Independent Auditor & Trustworthy Audit
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
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
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
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
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