Audit Articles
Empanlment of Audit work
Today, when a new member comes in the practice, there is very little scope of work for him more particularly for members practicing in small cities. There is need for generating the practice work for new members and for the members practicing in smal
VOUCHING IS THE ESSENCE OF AUDITING
VOUCHING IS THE ESSENCE OF AUDITINGVouching is said to be the very essence of auditing. The whole success of an audit depends on the intelligence and thoroughness with which this part of the work is done.Vouching means the verification of entries in
KNOTTY ISSUES IN AUDIT OF T.P.CLAIMS IN INSURANCE COMPANIES
KNOTTY ISSUES IN AUDIT OF T.P.CLAIMS IN INSURANCE COMPANIIESIntroduction: The audit of divisional offices of the insurance companies is primarily an audit of trial balance and it involves checking of claims under different types of business undertake
Cash Management: The role of the Internal Auditor
According to many industry experts the basic reason why many successful companies have collapsed is improper cash management. Having surplus cash in the current accounts are considered as a sign of efficiency of the companies but sitting on such larg
Internal Audit of Sub Con Dept of Engg Cos
Sub Contractor: A subcontractor is hired by a general contractor (or prime contractor) to perform a specific task as part of the overall project. The most common concept of a subcontractor is in building works and civil engineering. The incentive to
Resolutions, Notices, letters related with Statutory Auditor
Dear All, Please find below all the resolutions, notices, letters connected with Statutory Auditor under Section 224, 225, 228, 233A and 233B the Companies Act, 1956 at one place for your reference and record. Kindly excuse me if you find any typing
TRUE & FAIR AUDITING - AN INSIGHT!!
”TRUE & FAIR” AUDITING – AN INSIGHT! BY: CA. HARSH RAMNIWAS RATHIM. NO. 126391AHMEDABAD Imagine the following scenario: A multinational multilocational Fortune 500 company is being audited by one of the top auditing firms in the
Audit Sampling
Audit sampling Scope and objective of Audit samplingThe scope of sampling is determined by audit objectives, audit evidence and audit procedures. The purpose of this standard is to establish standards on the design and selection of an audit sample a
Format of Auditors Report
Auditor’s Report to the Members of ………………(name of the Company)We have audited the attached Balance Sheet of……………….(name of the Company), as at 31st March, 2XXX
Depreciation rate as per companies act
RATES OF DEPRECIATION UNDER COMPANIES ACTSCHEDULE XIV[See sections 250 and 350] RATES OF DEPRECIATION__________________________________________________________________________ Single Shift Double Shift Triple Shift Nature of Assets
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