Audit Articles
Why we need Internal Auditing?
Most of the executives of successfully running small medium enterprises have this question in mind. We have already spending for statutory audits (namely external audits) and why we need to spend again for internal aud
Internal Audit Process and Reporting
I received a message from one of our club member and she was keen to learn internal audit process & reporting and requested for some sample audit report. I replied her to develop her own audit report and send me for review, after reviewing the
Internal Audit Checklist for Statutory Dues and Credit
Dear All Internal Auditor, Audit Check List is Must for Audit. Through Only You can Know What Left and What Done. Input credit (Cenvat Credit):- 1. Cenvat Credit refers to availing (taking) credit of excise duty charged on
Fraud Risk Mitigation Process in Organizations.
The fraud is a growing issue in all types of industries, business, cultures and management, a study report published by Metricstream Inc unveiled that a typical organization loses its 5% of revenue each year because of the fraud and fraudulent act
Standards on Internal Audit: Codifying the Best Practices
What is Internal Audit? Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organizations operations. It helps an organization to accomplish its objectives by bringing a sy
Accounting and Auditing in Ancient India
Professionals want to know the origin of their profession, the work done in olden times and the level of knowledge. I thought of sharing with you the history of Indian accounting and auditing profession. I discovered in Kautilyas Arthshastr
How to detect fraud during the Audit - A tool for auditors
I felt a need to write about this important topic after experiencing that often times a fraud is detected by chance during the audit either by external or the internal auditors. The new auditors in profession and the auditors under training may sk
Risk Based Internal Audit Plan - A Practical Approach
The internal auditors role has become more important ever since before and the legislators, regulators and top business executives realize the importance of auditors in the governance and performance equation. Therefore, the auditors in a
Role of Internal Audit in Corporate Environment
With increasing attention to financial reporting - by legislators, regulators, security analysts, institutional investors, and others the role of internal auditors has become more important and increasing day by day. Internal Audit is an i
Auditors Criticise Without Value Addition
I thought of dealing with a difficult and sensitive topic for auditors. The corporate world views auditors with jaundiced eyes and auditorville has a bad reputation. Scott Adams in his book Thriving on Stupidity in the 21st Century
Popular Articles
- Senior Citizen Saving Scheme From 1 July 2026 with 5 New Rules
- Income Tax Slab for Senior Citizens Above 60 Years for AY 2026-27: With Deductions, Rebates and Examples
- EPFO 3.0 Introduces Faster Claim Settlements and UPI Withdrawals: Latest Update For July 2026
- Kisan Vikas Patra Scheme 2026: Latest Interest, Eligibility, Maturity, Taxability and Investment Benefits
- Senior Citizen After Retirement Must Report These 5 Incomes While Filing ITR for AY 2026-27
- TDS on Cash Withdrawals 2026: Excess vs. Entire Amount
- Input Tax Credit Under GST: The One Provision Where a Buyer Pays for a Supplier's Default
- New Interest Rates on Post Office Schemes from 1 July 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
