Audit Articles
Social Audit - Concept discussion
SOCIAL AUDIT - Concept discussion For the people, of the people, by the people Our country being a democratic nation and a Welfare State revolves around people. Government takes any decision keeping the common people in mind. G
Impact of Organization Culture on Internal Controls
The COSO defines Internal Control as a process, effected by an entitys board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: ef
Good to Great Risk Management
In the aftermath of the financial crises, it would seem fair to presume that risk management functions now have higher visibility, authority and influence. However, a recent report Too good to fail? issued by Economist Intelligence Uni
Be Audible, Dear Auditor!!!
6BE AUDIBLE, DEAR AUDITOR!!! By Vishnu Nair, CA Final Student, Institute of Chartered Accountants of India Auditing is a profession which is destined to serve myriads of stakeholders like shareholders, lenders, creditors, analysts, credit ratin
Duties of a Auditor
1) STATUTORY DUTIES (A) REPORT TO MEMBERS [SEC. 227 (2)] The auditor is required to make a report to the members of the company on the following matters a. Whether in his opinion the Profit and Loss Account shows a `true and fair view o
Hand Book on Professional Opportunities in Internal Audit/Assurance Work
INTRODUCTION A calm mind is better focused than a turbulent one. Internal auditor exhibits supremacy with his systematic and a well laid out approach, which offers him clarity and edge in whatever he undertakes. There is no limit on his accompli
Alignment of Excise Classification Code and Products under Cost Audit
Alignment of Excise Classification Code and products under Cost Audit (under Sec 233B) of Companies Act (year 2011-12 onwards) Amendment to Notification dtd 3rd May, 2011 Sir, In continuation of our earlier updates on cost audit, we would like
FAQ's on Appointment of Cost Auditor by Companies
Frequently Asked Questions on Appointment of Cost Auditor by Companies Q.1 Has the Government prescribed a new procedure for appointment of cost auditor by the companies? Ans. Yes. The procedure has been modified by the Cost Audit Branch
Few points on Internal audit
1) A plan once prepared should be continuously reviewed by the internal auditor to identify any modifications required to bring the same in line with the changes, if any, in the audit environment. However, any major modification to the internal audi
Auditor's Nightmare
Believe it or not, with every breaking news with respect to fraud/misappropriation/or untenable and unreasonable demands of different government authorities, the most affected and harassed person, now a days, is the auditor or the auditing firm who
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