Audit Articles
Audit By Dept. Officers- CAG- Are they legal?
The Central Excise as well as Service Tax have been amended post liberalization to follow the self assessment scheme. It means that the return is accepted as correct. However as a check against filing incomplete, incorrect, faulty returns there are p
Is audit and internal control a must
Implementation and continuous review of effectiveness of Internal Controls has always been a challenge for enterprises. Internal Controls can be compared to the chassis of a vehicle - without the chassis, the engine is rendered useless. Internal Cont
How to do concurrent audit of banks?
The word concurrent itself defines its meaning, concurrent means happening at the time. Concurrent Audit means doing the examination of the financial transactions at the time of happening or parallel with the transaction. Most of the new articl
Audit of Banks with the help of Finacle
Audit of Banks with the help of FinacleThe banking sector in India has developed tremendously after it adopted the Core Banking Solution (CBS). Finacle is also one of such CBS softwares developed by Infosys. Many nationalized banks such as Bank of B
How To Start An Audit For Beginners
HOW TO START AN AUDIT AND TAKE IT TO A CONCLUSION Ankit Aryal
The Anatomy of Controls
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
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?
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
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
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
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