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Audit News

EXPOSURE DRAFT STANDARD ON INTERNAL AUDIT (SIA) 140 GOVERNANCE The Internal Audit Standards Board of the Institute of Chartered Accountants of India (ICAI) invites comments on Standard on Internal Audit (SIA) 140, Governance. Comments are most helpful if they indicate a clear rationale and, ..

Posted in Audit |   331 Views

The Ministry of Corporate Affairs(MCA) on the 25th of February, 2020 in consultation with the  NFRA notified that the Companies (Auditor's Report) Order 2020 which will supersede Companies (Auditor's Report) Order 2016. The order notified on the following points: 1..

Posted in Audit |   1914 Views

Announcement on MEF 2019-20

 08 January 2020 at 12:34

Draft Bank Branch Auditors’ Panel of Chartered Accountants/firms for the year 2019-20 is available at Members are requested to kindly view the panel wherein we have endeavoured to cater to the queries raised by them through different modes for MEF 2019-20. In case, if ..

Posted in Audit |   1007 Views

Update: The Draft Bank Branch Auditors’ Panel of Chartered Accountants/firms for the year 2019-20 is available till 2nd Jan, 2020 at . We wish to inform that we are receiving the issues from the MEF Applicants mainly arising due to technological upgradation of ICAI data and ar..

Posted in Audit  1 comments |   2709 Views

The National Financial Reporting Authority (NFRA) has issued Audit Quality Review (AQR) report of the statutory audit for the year 2017-18 of IL&FS Financial Services Limited (IFIN). The statutory auditor for this engagement was Deloitte Haskins and Sells LLP (DHS). This is the first AQR repo..

Posted in Audit |   645 Views

ICAI recently made an Announcement on Applicability of "Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements" to Statutory Auditors of Listed Entities and their Material Subsidiaries. The Auditing and Assurance Standards Board of ..

Posted in Audit |   379 Views

Dear Professional Colleague Subject : ICSI UDIN and eCSIN Guidelines mandatory w.e.f. 1st October, 2019 The role of the Company Secretaries as governance enablers in the Indian corporate scenario has been well acknowledged, both by the corporates and the Regulators. Company Secretaries, both i..

Posted in Audit |   1533 Views

RBI/2019-20/64 DBS.CO.ARS.No.BC.01/08.91.021/2019-20 September 18, 2019 All Scheduled Commercial Banks (other than Regional Rural Banks), Small Finance Banks, Payments Banks and Local Area Banks Madam/ Dear Sir, Concurrent Audit System Please refer to circular DBS.CO.ARS.No.BC.2..

Posted in Audit |   1249 Views

1  Section 197(16) of the Companies Act, 2013 requires as under: "The auditor of the company shall, in his report under section 143, make a statement as to whether the remuneration paid by the company to its directors is in accordance with the provisions of this section, whether remuner..

Posted in Audit |   637 Views

It has been noticed by the Institute of Chartered Accountants of India that Financial Documents / Reports / Certificates are being signed by Non-CAs misrepresenting themselves as CA Members thereby misleading the Regulators, Authorities and Stakeholders. To curb this menace and malpract..

Posted in Audit |   652 Views

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