Scope of Audit

This query is : Resolved

Share Report Follow Query Ask a Query

TARUN JAIN

TARUN JAIN (Querist)
Follow

14 December 2009
Please provide me the scope of internal audit for law firm.

Thanks and Regards

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

15 December 2009 Traditionally; internal audit is meant for management to ensure that internal controls are adequate and effective; financial records are uptodate according to the operations carried out and policies and procedures laid down by the management is being followed.

In India; there is no restriction on law firms to be appointed as internal auditor.

But still; you should have some persons in your organisations who understand well about accounting.

Now-a-days; heavy penalties are there for non-compliance of various laws. Regarding that; your firm can provide such type of services.

At the time of your appointment letter; the areas of audit may be described well.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MUNISH KUMAR

nandeesh mashyal

madhu Reddy

Shailesh Prajapati

Credible HRM

Subscribe Now

Scope of Audit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Article Assistant

Accountant

GST CONSULTANT

CA Final