Audit Articles

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.

Planning of Internal Audit Assignments

CA. Heet Shah 04 June 2021 at 08:57

An Audit Committee is required to formulate the overall internal audit plan of the company which includes planning the scope, functioning, periodicity, and methodology for conducting the internal audit.

Basics of Audit & Application of Standards on Auditing

Udit Vyas 31 May 2021 at 12:44

In small to mid-sized firms, audits are carried out by article trainees, new paid audit assistants without properly meeting the Standards for Auditing set out by ICAI. Hence, it is very important to know where to apply these standards and the relevance of such standards.

Account Statement Analysis in Bank Audit

Udit Vyas 21 May 2021 at 09:42

Discussing the account statement analysis in the case of Cash Credit and Term Loan Accounts as these are the advances that contribute maximum in the bank’s fund based advance portfolio.

Standards on Review Engagements (SREs): SRE 2400 (Revised)

Tanuj Chandra Saxenaa 21 May 2021 at 09:41

The main purpose of reviewing a financial statement is to allow professionals to report whether anything has caught their attention which causes them to believe that financial statements aren't prepared in all material respect.