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Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors
The purpose of the article is limited to the topic on Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors
Internal Financial Control
The first and foremost duty of auditors with regard to Internal Financial Controls over Financial Reporting is to see and get satisfied as to the framework set in place as specified in the Guidance Note and as �declared in Directors
Corporate Governance - In retrospect
Corporate governance is a sine qua non. It is a must in a globalised environment.
Forensic Audit - A Modern Day Thrust and Thirst
Forensic Audit-a Modern Day Thrust and ThirstIntroduction: In the recent past, more so in the previous decade, accounting and auditing community witnessed and i...
Ind AS 19 on Employee Benefits
Employee Benefits include and cover all forms of consideration given by an entity in exchange for service rendered by employees. Pictorially, it is mapped out below. Post-Employment Benefits are employee benefits (other than termination benefits
Ind AS12 on income taxes
What is tax expense?Tax expense (income) is the aggregate amount included for determination of profit and loss in respect of current tax and deferred Tax. Income tax relating to items charged or credited to other comprehensive income/equity is charge
Ind AS 110 on Consolidated Financial Statements (CFSs)
Ind. AS 110 on Consolidated Financial Statements (CFSs) Before the commencement of the Companies Act 2013, Consolidated Financial Statements are the SEBI requirements for the Listed Companies. But, the Companies Act 2013 mandates
Ind AS 103 on business combination
�Comb� as everybody knows is used to untangle, arrange smooth out, straighten and neaten the hair by drawing the comb through it. Therefore, the �comb�, in the context of �Business combi
Measurement of Debt Instruments under Ind AS
Financial Instruments are valued either at amortised cost or at fair value. Fair value valuation could be either by fair value through Profit and Loss or Fair value Through Other Comprehensive Income; the latter could be transferred on de-recognition
Disclosure norms - Living Figures vs. Book Figures
The word �close� has dynamically two different meanings depending upon the usage either as a verb or otherwise. If one says he is close to you, it means he is nearer to you either by distance or conception. If the same is used as �v
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