Audit Articles

Is Auditor Certificate mandatory for DPT-3?

CS Divesh Goyal 28 July 2021 at 09:35

Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.

How can an Auditor report a disqualification of a director in the Audit Report?

CS Divesh Goyal 28 July 2021 at 09:35

It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.

Management Services that are not allowed to be provided by Statutory Auditors

CS Divesh Goyal 26 July 2021 at 09:35

Discussing the Restricted Services and Management Services that are not allowed to be provided by Statutory Auditors under the Companies Act, 2013 and the Chartered Accountants Act, 1949.

Fighting Fraud: When to use civil and criminal remedies

M RANGARAMANUJA ACHARYULU 20 July 2021 at 09:21

Whether a company chooses a criminal or civil route to fight fraud will ultimately be a commercial decision and the risks of failing to recover the company's losses must be balanced carefully against the potential costs of seeking recovery.

Role of auditing in context of Armed Forces

Bushra Rahman 17 July 2021 at 09:10

The Defence Accounts Department, headed by the Controller General of Defence Accounts is compulsory to carry out an audit of all expenditure and receipts besides accounting and payment functions.

Secretarial Audit Report And Annual Secretarial Compliance Audit Report

DEEPAK SETH 14 July 2021 at 09:20

A Secretarial Audit is a part of total compliance management in an organization. It is a compelling instrument for corporate consistency among executives.

Analysis on ADT-1 for appointment of first auditor

CS Tanveer Singh Saluja 06 July 2021 at 17:51

As a good Corporate Governance practice, it is always advisable to file form ADT-1 upon the appointment of the first auditor. This is beneficial from each and every stakeholder's point of view.

Auditing Standard on other Assurance Services

CA Amrita Chattopadhyay 21 June 2021 at 12:09

One of the areas in which a CA renders services is assurance engagement. Discussing Auditing Standards on Other Assurance Services including Certifications, Projections and Provisional Statements.

Applicability Of Code Of Ethics For Practicing Firms

CA Amrita Chattopadhyay 07 June 2021 at 11:47

ICAI has issued a revised Code of Ethics 2019 which is applicable from 1st April 2020. The purpose of the Code is to promote an ethical culture in auditing.

Internal Audit Evidence

CA. Heet Shah 04 June 2021 at 08:57

Information collected from underlying entity records and processes, as well as information from the performance of various audit activities and testing procedures forms part of "Internal Audit Evidence" based on which auditor forms his opinion.