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Audit Articles


Discussion on Notice from Cost Audit Department

  CS Divesh Goyal    12 May 2022 at 17:29

In this editorial, author shall discuss the provision, applicability of Cost Audit and Cost Auditor on Companies along with reason of issuance of Notice from the Cost Department.



Cost Audit and Cost Records Applicability 2022-23

  CMA Navneet Kr Jain    02 May 2022 at 09:04

Through this article, we have tried to answer most of queries which a company can have with regard to cost records applicability or cost audit.



Bank Stock and Receivable Audit: An Overview

  CA Ramanujan Sharma    26 April 2022 at 13:02

In this article, the author has tried to throw some light on the procedure to be followed while conducting stock and receivable audits in a brief manner



Accounting software must provide an audit trail feature by April 1, 2023

  Akanksha Bhargava    13 April 2022 at 17:32

Companies have been granted a year to implement the Ministry of Corporate Affairs' latest change in accounting software to use the audit trail (edit log) feature. The audit trail will be mandatory for private limited firms starting April 1, 2022, according to a decision made this year.



Important amendments to IRAC norms for Bank Branch Auditors 2022

  CA Mahesh Bansal    05 April 2022 at 14:48

The RBI had issued certain clarifications vide its notification dated 12th Nov 2021 with a purpose to more accurately interpret the extant IRAC norms which we must keep in mind while conducting branch audits this time.



Auditing Social Media

  CA Amrita Chattopadhyaypro badge    04 April 2022 at 16:54

The social media has emerged as a strong interactive platform and it has started to make a huge positive impact on the society. Almost everyone today has a Face..



Bank audit of working capital loan limits

  kotte murali krishna    25 March 2022 at 14:17

The SBA should verify the details of stock statement dated 31st March of 2021 submitted to the bank and the values of drawing power claimed therein with the values reported in audited balance sheet of 31-03-2021



Why is it important to consider cyber risk in risk assessment procedure during audit

  CA Amrita Chattopadhyaypro badge    05 March 2022 at 11:16

The importance of cyber risk assessment has increased manifold due to the pandemic. Some of the cyber threats which has developed over the last two years during the pandemic were the ransomware where the attack has increased by 150% due to the "Work from home" culture.



Consideration of cyber security controls in the audit program

  CA Amrita Chattopadhyaypro badge    04 February 2022 at 08:56

This article aids in providing to understand the cyber risk and the audit approach by the auditors to comply with SA 315.



All About Tax Audit and Form 3CD (Part-6)

  Neethi V. Kannanth    31 January 2022 at 08:36

This article is the final part of the series on the Tax Audit and Form 3CD and I’ll be discussing clause 32 to 44 through this article.