Audit Articles

Crucial Role Of Reliance On Third Parties And Experts In The Audit Process

CA Amrita Chattopadhyay 27 January 2024 at 12:51

In the ever-evolving landscape of finance and business, auditors find themselves navigating through turbulent seas, facing challenges that are as dynamic as the markets they scrutinize.

Unveiling Professional Misconduct: NFRA's Order on Seya Industries Limited's Statutory Audit

CA Kunal Jain 19 January 2024 at 14:20

In a recent development, the National Financial Reporting Authority (NFRA) has issued a consequential order shedding light on the statutory audit of Seya Industries Limited for the financial years 2018-19 and 2019-20.

Case of the Uncooperative Auditor and a Lesson in Professional Responsibility

CA Aman Rajput 11 January 2024 at 09:00

Few days ago, I appealed ICAI to raise professional misconduct fund, even posted at my LinkedIn handle regarding ICAI to bring some insurance scheme to cover risks of CA from paneities and fines up to 50 lac to 1 crore with a nominal premium every year

Company Secretary as a Forensic Auditor

FCS Deepak Pratap Singh 26 December 2023 at 08:52

Forensic Audit represents an area of finance that combines detective skills and financial acuity.

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..