Audit Articles
CARO 2020 - Enlarging Auditor's Responsibility
Jigar Rajendrabhai Mansatta 28 May 2020 at 10:01Recently Ministry of Corporate Affairs has come out with Companies (Auditor's Report) Order, 2020; along with the increase in the scope of many clauses and insertion of new clauses, there is also deletion of an existing clause.
Audit checklist for F.Y 2019-20 - Direct tax
Parth Shah 23 May 2020 at 09:32The Finance Minister while giving the details of the Economic Package announced the extension in the Tax Audit date and the due date to file the Income Tax Return. However, with the deferment one should not forget the Tax Audit Checklist for FY 19-20.
Appointment of Auditor- Sec 139 of Companies Act
Sanchit Aggarwal 21 May 2020 at 14:57Sec 139 of the Companies Act 2013 provides that every company shall appoint an individual or firm as an auditor of the company. Appointment of an auditor is subject to the Board of directors and members of the company at AGM or EGM
Key Considerations for Assessing Going Concern Assumption
Vijayta Kamble 18 May 2020 at 10:41Assessment of Going Concern is one of the key areas which require the attention of Auditors and Management for the audit of financial statements for the year ended 31st March 2020. However, it is the general assumption of people that assessment of going concern is only the responsibility of auditors and not that of management.
Are practicing Chartered Accountants ready for Virtual Audit?
Dilip K Raina 15 May 2020 at 10:27It seems that the current year's audit will be a virtual one and from our own offices presently scattered at different locations as most of us are working from home.
ICAI's advisory on statutory bank branch audit
Suhasini 07 May 2020 at 09:12There is a sea change that is expected in the way businesses (including banking) is conducted and the way the audit profession would require to nurture itself to adopt to the changing environment.
How COVID-19 will affect Audit of Financial Statements?
Anupinder Singh 06 May 2020 at 10:28Impact of COVID-19 situation on Audit of Financial Statements
ICAI COVID-19 Advisory on Finalisation and audit of Accounts
P.R. Sethuraman 04 May 2020 at 09:55By this time, when the Accounting and auditing community are busy with the finalization of financial statements for the year ended 2020, they might have gone through The ICAI ACCOUNTING & AUDITING ADVISORY Impact of Coronavirus on Financial Reporting and the Auditors Consideration.
Bank Branch Statutory Audit from Remote Location due to COVID 19
CA Satish Badve 01 May 2020 at 10:32Bank Branch Statutory Audit from Remote Location due to COVID 19
Reliefs by RBI in Bank Branch Audit due to COVID-19
CA Pooja Dhoot 30 April 2020 at 10:22Recent reliefs by RBI in Bank Branch Audit due to COVID-19. The Reserve Bank of India has brought 3 major circulars in form of COVID-19 regulatory package.
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