In last couple of years, the audit profession has received the attention which no other profession has received due to corporate frauds which has surfaced, the kind of economic and regulatory changes taken place (which has not taken place for couple of decades). We have witness complete overhauling ..
The audit profession has been in news in the recent times
due to various frauds reported in the corporate world. Various questions have
been raised on the professional work done by Chartered Accountants. Generally
Chartered Accountants work in most ethical manner in environment of constraints ..
Developments in business, regulation, corporate governance and user expectations drive change in auditing standards and methodologies, as do changes to the content of financial statements. Auditing standards have developed in two ways to tackle uncertainty attaching to financial statements and the r..
In the wake of the present financial crisis, the role of the auditor has been questioned by many stakeholders. One of the concern of the stakeholder was that the auditor's report was not very informative and was not very transparent. It was a requirement for the auditor to share more information..
The Peer Review Board of ICAI was established in 2002, recognizing the need to ensure the quality of services provided by practicing Chartered Accountants.The term peer review means review of work done by a professional, review by another professional of similar standing. Peer review mostly covers t..
Notification No. 12/2017 - Central Tax (Rate) dated 28-06-2017 exempts services provided by entity registered under Section 12AA of the Income-tax Act, 1961 by way of charitable activities from whole of GST vide entry No. 1 of the notification, which specifies that ' services by an entity regist..
The taxability and availability of Input Tax Credit on Gifts and donations have always been a matter of discussion and confusion. With the implementation of GST, the term gift has become a buzzword. The gifts are provided by the company for the purpose of advancement of business or for sales promoti..
Forensic audit has gained lot of importance recently due to rapidly changing landscape in the field of accountancy involving many online components. It has become important for the business environment to ensure that company’s finances are kept safe. Unlike the regular audit where the objectiv..
In the wake of recent bank scams questions have been raised on the professional standards, quality, and commitments of Chartered Accountants.
These allegations have seriously undermined the image of our CA profession in the eyes of corporate world and public at large. Generally, the Charter..
Cloud computing is one of the most talked about topic in the industry today. Basically cloud computing is internet computing where the cloud is metaphor for internet.
The cloud part, dates back to the 1990s when the term was used to refer to ATM networks. Network diagrams use a cloud symbol to re..