Audit Articles
Audit of Banks with the help of Finacle - Segment 2
Hello everyone! Since the Bank Audit season is around the corner, I thought it to be appropriate to come up with another article regarding Audit of Banks having Finacle as their CBS platform. This ar
Payment of Term Deposit with mandate revised guidelines
PAYMENT TO EITHER OR SURVIVOR IN DEPOSITS OF BANK-REVISED GUIDELINES OF RESERVE BANK OF INDIAMy purpose to write this article is to make, the people at large, aware of the changes made by Reserve Bank of India which have material impact on their deci
Guest Auditor leveraging your organisation Talent
GUEST AUDITORS LEVERAGING ORGANIZATIONS TALENT1GUEST AUDITOR INTRODUCTION The concept of Guest Auditor is prevailing in some of the companies. The advantage
Caro and its clauses which needs reporting by auditor
The central government come out with these extra reporting requirements to ensure that the auditor should check and report on the matters mentioned in CARO for ensuring smooth working of company.Co
Provision of Companies Act, 2013 relating to Auditor
Provision Of Companies Act 2013 relating to Auditor. INTRODUCTION There is a huge tremendous Change in new Provisions under the Companies Act, 2013 with respect to Auditors as compared to the old Companies Act, 1956. The new Act in
How to improve Bank Audit Appointment System?
PRESENT APPOINTMENT SYSTEM: A) Every year, ICAI forward the Bank Branch Auditors Panel to Reserve Bank of India. The said panel was classified into following three lists by RBI:- i. List of auditors stationed at cooling period (applicable to
Analysis of Provisions on Statutory/Cost/Secretarial Audits & Auditors
THE COMPANIES ACT 2013(Chapter X- Sections 139 to 148 & 204) About the Act The long-awaited new Companies Bill 2012 has at last seen the light of the day as The Companies Act 2013 (Act No.18 of 2013) with its publication in the Gazette of India E
Limited Review
Limited Review can be defined as the audit of financial statements on quarterly basis. Listed companies are required to conduct limited review through statutory auditors before s
Outsourcing the Audit Function-Key Considerations
Introduction Offshoring of business processes has gained wide currency in recent times. From its simple beginning in the 1970’s with the movement of payroll and repetitive transaction processing, off-shoring has grown to a $65 billion market. A
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
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