Audit News

CBDT notifies new Form 3CA, 3CB & 3CD, format of tax audit report revised

29 July 2014 at 10:58

CBDT Notifies new Form 3CA, 3CB & 3CD Format of Tax Audit Report Revised Detailed information has been attached herewith

Posted in Audit | 6 comments | 71196 Views

CAG of India Takes Over as Member of UN Board of Auditors

26 July 2014 at 12:21

The Comptroller & Auditor General of India today assumed office as Member of the United Nations Board of Auditors for a six year term upto June 2020. Shri Shashi Kant Sharma took over the charge of this prestigious position from Mr. Liu Jiayi, th

Posted in Audit | 5 comments | 24069 Views

Form 23C and Form 23D are not applicable for filing in relation to appointment of Cost Auditor

02 July 2014 at 12:10

Form 23C and Form 23D are not applicable for filing in relation to appointment of Cost Auditor. New Form required pursuant to new Cost Records & Audit rules shall be made available shortly.

Posted in Audit | 5 comments | 33531 Views

CAG is duty bound to Report to Parliament Matters Involving Revenue Sharing

13 May 2014 at 17:49

Our Long Time Stand that CAG has Constitutional Mandate to Audit Private Firms has been Vindicated by the Hon’ble Supreme Court says Shashi Kant Sharma The recent ruling of the Honorable Supreme Court is a landmark one and has removed, once for

Posted in Audit | 2 comments | 16296 Views

Secretarial Audit under Section 204 of the Companies Act, 2013

08 May 2014 at 10:44

Secretarial Audit under Section 204 of the Companies Act, 2013

Posted in Audit | 1 comments | 40329 Views

Manner of Auditor's Reporting on RBI's Circular on Deferred Tax Liability on Special Reserve

01 May 2014 at 11:29

The following Announcement is being issued by the Auditing & Assurance Standards Board under the Authority of the Council of ICAI. Manner of Reporting by the Auditors In Respect of RBI’s Circular on Deferred Tax Liability on Special Reserve

Posted in Audit | 1 comments | 20832 Views

Clarification on prohibition of simultaneously undertaking Concurrent Audit and Quarterly Review of the same Bank

03 April 2014 at 10:53

Since queries are being received from members at large on the issue, it is accordingly hereby clarified that concurrent audit and the assignment of quarterly review of the same Bank cannot be undertaken simultaneously as the concurrent audit being a

Posted in Audit | 2 comments | 15684 Views

ICAI prohibits sharing of firms details for ranking

31 March 2014 at 11:20

It has been brought to the notice of some members that certain entities are seeking details of the Chartered Accountants firms, for the purpose of making ranking of the various Firms through comparison of different parameters. In this regard, Members

Posted in Audit | 9 comments | 25092 Views

Auditing and Assurance Standards Board- EXPERT PANEL for Addressing Bank Branch Audit Queries FY 2013-14

24 March 2014 at 11:21

AUDITING & ASSURANCE STANDARDS BOARDCONSTITUTES EXPERT PANEL FOR ADDRESSING BANK BRANCH AUDITRELATED QUERIES FOR THE FINANCIAL YEAR 2013-14 Dear Members,The bank audit season is around the corner. Given the fact that the banking industry is typic

Posted in Audit | 2 comments | 22098 Views

ICAI helps political party to establish sound accounting principles

11 March 2014 at 13:33

Workshop on election expenditure monitoring andAuditing and Accounts of Political Parties 1. A workshop on “Election Expenditure Monitoring and Auditing and Accounts of Political Parties” was organised by Election Commission of India (ECI

Posted in Audit | 11 comments | 26349 Views