Audit Articles

All you need to know about Audit Risks

Namrata 26 February 2021 at 10:01

Audit risk is a risk that an auditor will not detect errors or fraud while examining the information collected and a material misstatement may go undetected.

Note on Management Representation Letter (MRL)

CA Satish Badve 24 February 2021 at 09:51

An MRL is issued by the client (Auditee) to the auditor in writing as a part of Audit Evidence. This document during the audit clarifies the separation of responsibilities of the auditor and auditee (management).

Data Analysis In Internal Audit - Payroll

CA Amrita Chattopadhyay 02 February 2021 at 09:12

It is very important to establish adequate controls in the payroll process. Further, it is also important to know that the controls established are working adequately.

Expanding Limits of Internal Audit - IA in Corporate Governance

Gayathri R 25 January 2021 at 17:45

Corporate Governance means the credibility, accountability of an entity to its stakeholders. Corporate governance is the keyword in any organization as it decides the rise and fall on an entity.

Auditing Financial Internal Controls

S Bhatnagar 19 January 2021 at 09:54

Detailed analysis of provisions regarding Sarbanes Oxley Act(SOX) , Corporate Responsibility for Financial Reports and the Internal Controls to be reviewed by the IT systems auditors while conducting an audit

Revised Code of Ethics by ICAI

Venkat Raj 15 December 2020 at 09:51

ICAI, being the regulator, certifier, and educator of the accountancy profession since 1949 in India has brought up a new code of ethics in 2019. The same was to be made effective from 1st April 2020 however made applicable from 1st July 2020 due to COVID 19.