Audit Articles

Social Audit - Concept discussion

Posted by CA Ruban kumar 16 August 2011 81787 Views

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

Be Audible, Dear Auditor!!!

Posted by Vishnu Nair 23 July 2011 15783 Views

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

Posted by Harish Chandra 16 July 2011 203495 Views

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

Posted by Rajkumar Adukia 02 July 2011 17450 Views

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

Posted by CMA Navneet Kr Jain 01 July 2011 11445 Views

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

Posted by sunil 11 May 2011 19361 Views

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

Posted by Raghavendra 28 April 2011 52260 Views

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

Posted by Dilip K Raina 25 April 2011 15509 Views

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

Posted by PINKESH JAIN 08 March 2011 174580 Views

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)

Posted by CA Yashwanth Lathore 07 March 2011 19171 Views

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