Audit Articles

Understanding of Standard on Quality Management SQC 1

Ninad Mankar 13 December 2023 at 10:33

SQC 1 deals with the firm's responsibility for having a system of quality management. The SQC is the mechanism that creates an environment that enables and supports engagement teams in performing quality engagements.

NFRA Imposes 5 Lakh Penalty and 10-Year Ban on Two Auditors of BHPL over Audit Lapse

CA Kunal Jain 08 December 2023 at 09:21

This Order by the NFRA disposes of the SCN issued to CA Jignesh Mehta, a member of ICAI and the Engagement Partner (EP) for the statutory audit of Dewan Housing Finance Corporation Limited (DHFL) for the Financial Year 2017-18.

How to Start an Audit of a Listed Entity?

CA Aman Rajput 27 November 2023 at 08:48

In this article, we will discuss the step-by-step process of initiating an audit of a listed entity.

Standards on Auditing for LLPs by ICAI

CA Aman Rajput 24 November 2023 at 09:01

ICAI has proposed Standards on Auditing for Limited Liability Partnerships (LLPs), let's discuss this with explanation of each SA applicable to LLPs

Crucial role of internal auditor in educational institution

CA Amrita Chattopadhyay 02 September 2023 at 11:47

In an era where educational institutions play a pivotal role in shaping the future of individuals and societies, ensuring transparency, accountability, and qual..

Mastering Purchase Reconciliation: A Guide to Efficiency and Insight

Nikita Agarwal 23 August 2023 at 08:58

Balancing the Books: Exploring the How-To and Why-It-Matters of Reconciling Purchases with the Purchase Register

Vertical Analysis of the Income Statement

Swathi Reddy 07 August 2023 at 08:45

Vertical analysis is a way to analyze financial statements. It shows each item as a percentage of a base figure. It is easy to understand. In this type of analysis, all income statement items are shown as a percentage of Sales.

Step wise Human Resource Audit with Checklist and its Benefits

Nikita Agarwal 03 August 2023 at 09:00

A human resource audit is a comprehensive review and evaluation of an organization's HR policies, practices, and procedures. It helps identify strengths, weaknesses, and areas for improvement in the HR function.

Tax Audit Applicability - A Guide

CA Ruby Bansal 01 August 2023 at 17:22

Tax audit refers to the examination and verification of a taxpayer's financial records, transactions, and other relevant information to ensure that they hav

Role Of Auditor: Balancing Audit Procedures And Professional Skepticism

CA Amrita Chattopadhyay 01 August 2023 at 12:44

This article delves into the significance of auditors' role in the financial ecosystem, emphasizing the delicate balance between conducting thorough audits and staying vigilant against potentially fraudulent activities.