Audit Articles
Basic and Universal Concepts in Auditing
In this article, I will share some of the fundamental building blocks related to Auditing. These are universal concepts and apply to all organizations irrespective of legal form or size.
The Critical Role Of Data Security In Ensuring Audit Trail Compliance: A Legal And Operational Perspective
This article explores the significance of preserving audit trails for eight years and how this requirement is deeply connected to the security of the data centers where these records are stored
Understanding Professional Skepticism: A Cornerstone of Effective Auditing
This article explores the definition, importance, and practical applications of professional skepticism in the auditing process.
Secretarial Audit Compliance under Companies Act, 2013
Secretarial Audit is a compliance audit and it is a part of total compliance management in an organization. The Secretarial Audit is an effective tool for corporate compliance management. It helps to detect non-compliance and to take corrective measures.
Cost Audit and Cost Records Applicability 2024-25 & Non Compliance attracting Show Cause Notices
Simple way of checking the applicability of Section 148 with regard to applicability of maintenance of Cost records or cost audit for 2024-25 is to review the financials of 2023-24 &Check the Total turnover of the Company
Valuation of Intangible Assets as per IFRS
Valuation of intangible assets under IFRS (International Financial Reporting Standards) involves assessing their fair value, which is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm's length transaction.
NFRA Charges Audit Firm for Non-Disclosure of Interest Costs in Vikas WSP Audit
In the matter of M/s S. Prakash Aggarwal & Co., ICAI Firm Registration No. 06105C, under Section 132(4) of the Companies Act 2013 read with Rule 11(6) of National Financial Reporting Authority 2018 - Order No. - 009/2024
Corporate Structure and Identification of Red Flags
Understanding various flags and fixing the flags
Understanding Systems Audit and Process Audit: A Comparative Analysis
In the sphere of organizational management, audits serve as indispensable tools for enhancing efficiency, ensuring compliance, and driving overall effectiveness. Among the array of audit types, two stand out prominently: systems audit and process audit.
Delay in complying with timelines relating to Cost Audit 2023-24 to be informed to MCA by Cost Auditors
Recently, MCA issued various notices after reviewing the cost audit reports, and now ICMAI has come up with an advisory, which we need to follow. We request that you ensure the accuracy of the data, the timely completion of the data, and the filing of the cost audit report.
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