Audit Articles

Concurrent Auditor and Family Doctor

Posted by CA Satish Badve 25 August 2014 10063 Views

As concurrent audit is a continues function it will always be called as extended arm of management function, a tool to reduce the gap between the transaction and audit of the same, a part of Internal control and so on. In spite of being there in t

Risk based audit

Posted by Deepika Agarwal 20 August 2014 25677 Views

INTRODUCTION Many of us think that the job of an auditor is very fascinating and easy, but it is not so, the job of an auditor is very hectic and involves lot of hard work and commitment. It involves checking whether the financial statements of the en

Web Based Audit in Cloud computing era

Posted by pappachan 11 August 2014 7859 Views

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

Posted by manoj sethia 01 August 2014 40136 Views

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

Posted by CMA Navneet Kr Jain 25 July 2014 88678 Views

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

Posted by RAM KUMAR GUPTA 23 July 2014 51829 Views

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

Posted by CMA Arif Farooqui 14 July 2014 31511 Views

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

Posted by SANJAY KUMAR DEY 08 July 2014 11227 Views

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

Posted by Satvir Singh 25 June 2014 9326 Views

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

Posted by CA Satish Badve 02 June 2014 15844 Views

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