Articles by CA Amrita Chattopadhyay

Significant changes introduced in the revised auditing standard - SA 570 going concern

Posted by CA Amrita Chattopadhyay 07 June 2016 12202 Views

The revised Auditing Standard introduced for SA 570 Going concern is for the audits of financial statements for the periods beginning on or after 01st April, 2017.Significant changes introduced in the standard:ScopeThe earlier standard which was effe

Risk of fraud in E-commerce business

Posted by CA Amrita Chattopadhyay 04 May 2016 7388 Views

IntroductionOne business segment which has seen continuous growth in the last decade is E-commerce despite of weak economy. While the E-Commerce business continues to grow, few people understand the risk associated with E-Commerce and IT. The growth

Comparison of internal audit and internal financial control

Posted by CA Amrita Chattopadhyay 17 March 2016 46573 Views

Executive SummaryThe Companies Act, 2013 has placed additional responsibility on the statutory auditor to report on the Internal Financial Control of the company as per clause (i) of sub-section 3 of section 134. Although the section was notified in

Auditor's role in handling big data

Posted by CA Amrita Chattopadhyay 10 December 2015 9601 Views

BIG DATA � ROLE OF AUDITOREXECUTIVE SUMMARYThe audit profession has gone through many changes from time to time from review of the financial figures to shifting the focus to risk assessment and internal control, and consideration of fraud in th

Importance of corporate governance and companies act, 2013

Posted by CA Amrita Chattopadhyay 02 September 2015 99752 Views

IntroductionThe term Governance refers to the process of governing, whether undertaken by government, market or network, whether over a family, tribe formal or informal organization or territory whether through general laws, norms or po

Importance of written representation in Audit

Posted by CA Amrita Chattopadhyay 19 June 2015 54977 Views

IMPORTANCE OF WRITTEN REPRESENTATION IN AN AUDIT IntroductionCompanies Act 2013 has increased the responsibility of the auditor to manifold. The auditor has to take into consideration many factors while issuing report to the members of the company.As

Social Accounting & its importance

Posted by CA Amrita Chattopadhyay 28 May 2015 51824 Views

Social accounting is a way of demonstrating the extent to which an organization is meeting its stated social or ethical goals. Technically, the term �social accounting� or �social auditing&rdqu

Going concern & importance of continuity management

Posted by CA Amrita Chattopadhyay 15 May 2015 15172 Views

Introduction The financial statements of an organization are prepared based on certain fundamental accounting assumptions. These assumptions may not be specifically stated, but their use and acce