Audit Articles

Bank Branch Audit - at a Glance

Posted by Raghavendra Bhat 21 August 2010 21731 Views

The rapid advancement in information technology has revolutionised the Indian banking sector—perhaps one of the largest in the world as far as its extensive branch network is concerned. Not a day passes without a new ATM being opened or a new

Points to be considered while acquiring a company

Posted by Manikanta Raju CA,CWA,(CS) 16 June 2010 31973 Views

Now a day’s cross border transactions, mergers and acquisitions became quite common in a regular business phenomenon. In this article I will discuss a few points as a course of initial observations to be considered while acquiring company- 1)

EOU and its difference with SEZ

Posted by Manikanta Raju CA,CWA,(CS) 14 June 2010 130964 Views

Exported Oriented Units: Units undertaking to export their entire production of good & services may be set up under the EOU scheme Procedural Aspects: Application for setting up, to be made to- ü ‘Board of approval ‘ (BOA) for

Peer Review documentation-Auditees prespective

Posted by CA Umesh Sharma 04 June 2010 42504 Views

Documentation by PU for peer review process The Peer Review Statement does not lay down any requirement for maintaining documents by the practicing unit. However, Standard on Auditing (SA) -230 “Documentation” which is mandatory from 1s

Concept of SEZ

Posted by Manikanta Raju CA,CWA,(CS) 02 June 2010 17998 Views

Query-1: What is the concept of SEZ??? Clarification: SEZ is a “Specifically delineated duty free enclave”……. Let me explain this with an example ------ “Think of sitting in a library and studying and that the libr

Role of Due Diligence in the Upcoming Scenario

Posted by Prasanth Nair V 20 March 2010 12150 Views

Role of Due Diligence in the Upcoming Scenario We are aware of the term Due Diligence, as we are frequently coming across during our audits. But how many of us, really know what it pertains to. If u want to know its exact meaning and implications,

Stock Audit of Bank Borrowers

Posted by CA Pranjal Joshi 25 January 2010 345246 Views

Stock Audit of Bank BorrowersCA Pranjal Joshi Introduction – Working capital finance in the form of cash credit against the security of hypothecation of stock and debtors is one of the most common modes of finance frequently adopted by various

ANALYTICAL REVIEW

Posted by CA.Parsun Garg 12 December 2009 30631 Views

ANALYTICAL REVIEW The two main functions of analytical review are: To provide the client with supplementary useful information in addition to the annual accountsØ To identify critical audit areas in audit planningFor the purpose of a fundament

DISCLOSURE REQUIREMENTS AS PER SCHEDULE VI (PART I) Co. Act

Posted by CA.Parsun Garg 01 December 2009 155746 Views

BALANCE SHEET DISCLOSURE REQUIREMENT AS PER SCHEDULE VI (PART I) OF THE COMPANIES ACT, 1956 1.GeneralThe Balance Sheet of the Company shall be either in horizontal form or vertical form. Except in the case of the Balance Sheet laid before the compan