Audit Articles

Qualifications and Disqualification of the Auditor

Neethi V. Kannanth 20 September 2022 at 13:58

There are certain criteria set for a person to be appointed as an auditor of the company. The same is discussed in this article. Read on to know more.

Removal and Resignation of Auditor

Neethi V. Kannanth 20 September 2022 at 08:53

An auditor appointed under section 139 of the Companies Act, 2013 cannot be removed from his office before the expiry of his term.

Liabilities of the Auditor under Companies Act 2013

Neethi V. Kannanth 13 September 2022 at 08:59

When a person who has engaged an auditor, has suffered some loss, damage or detriment due to non-performance of duty by such auditor in accordance with the accepted professional standards, it shall give rise to the liability of the auditor.

Revenue Leakage Audit of Banks

CA Ramanujan Sharma 05 September 2022 at 08:49

In this article author has tried to throw some light on the procedure to be followed while conducting Revenue Leakage audit in a brief manner.

Identification of Green flags in Audit of Financial Statement

CA Amrita Chattopadhyay 20 August 2022 at 16:32

While conducting the audit of financial statement and fraud investigation it is imperative for the auditor to focus his attention not only for the RED Flags but also to draw his attention towards the green flags in the financial statements and the operations in the organization.

Company Auditor: Role and Responsibilities

CS CHARU VINAYAK 20 July 2022 at 09:00

The present paper explores the role and responsibilities of the company auditor. This will provide valuable information to the companies and the auditors. The audit is also of value to people doing business with the company because it helps them to assess the reliability of the company's stated financial position.

Why interview skills are important during audit?

CA Amrita Chattopadhyay 02 July 2022 at 12:38

As an auditor who needs to conduct the audit as per the auditing standards prescribed by ICAI, it is important for the auditor to have proper planning of the audit, execution and collecting of evidences as per the audit plan and reporting the findings to the management or Those Charged with Governance.

Why should auditor of financial statement be concerned about cyber security?

CA Amrita Chattopadhyay 08 June 2022 at 12:43

With the fast-changing business environment and the fast-paced change in the technology and the way business is being conducted, it becomes important for the auditors to also keep in pace with the rapid changes taking place and adopt technology while conducting audits.

Appointment of Cost Auditor - Quick Process

CS Lalit Rajput 23 May 2022 at 17:41

The primary goal of cost audit is to ensure that the cost relating to production and sales encompass only those factors which are imperative and that those factors are utilized most effectively.

Notices for non-appointment of Cost Auditors for 2017-18 being issued by Cost Audit Branch of MCA

CMA Navneet Kr Jain 17 May 2022 at 15:46

Though Companies Act mandated the maintenance of Cost Records and Cost Audit for companies fulfilling certain criteria, however, the companies used to ignore the mandate by simply mentioning in the Director's Report and CARO report that Section 148 is not applicable.