Audit Articles
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
Critical analysis of section 44AD
Critical Analysis of New Section 44AD (inserted by Finance (No 2)Act, 2010) Till the 31st March,2010, the Chapter Profit & gains of Small business on Presumptive Basis was having majorly 3 sections for Indian entities. Section 44AD civil construct
Audit Sampling (boon to auditors)
Introduction: Traditionally, an audit was conducted to check all the transactions without any exception in the programme. Obviously it was a wasteful exercise since the time and cost involved in it and the result obtained out of it was not that much
Audit Programme of Small Bank Branches
AUDIT PROGRAM OF SMALL BRANCHES OF BANKS By CA Krishna Kumar Daruka Friends the bank audit time is nearing.
Audit Procedure for the Manufacturing Concerns
Hi Friends this is my first article which I writing about audit procedure to be followed to while carrying audit to the Manufacturing Companies. So Without any other deviation/discussion, let us directly go into the procedure 1) Has to know
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