Audit Articles

Ind AS 19 on Employee Benefits

P.R. Sethuraman 03 June 2016 at 10:51

Employee Benefits include and cover all forms of consideration given by an entity in exchange for service rendered by employees. Pictorially, it is mapped out below. Post-Employment Benefits are employee benefits (other than termination benefits

Audit of educational Institutions

Member (Account Deleted) 20 May 2016 at 11:27

Audit of books of educational institutions i.e. Schools, Colleges, Universities etc is known as audit of educational institutions. This type of audit comes under the category of special audit.Generally, the procedures for auditing is same like other

Shocking observations on auditors of listed companies

CA Ravi Taori 29 April 2016 at 11:12

Major changes were made in CA Act 1949 in year 2006 to improve quality of services given & punish CAs who indulges in professional misconduct. One of the very important change was introduction of Chapter VIIA, Sec 28A to 28D dealt with very power

Auditors Can Deliver Accurate, Swift Results with Integrated Business Intelligence Tools

Arbuda Dave 27 April 2016 at 11:05

When an enterprise engages in an audit process, it must have access to data from numerous systems and sources. This data will play a crucial role in gathering facts, analyzing processes, getting to the heart of issues and problems, uncovering and mit

Standards on Auditing - Not a choice but a compulsion

Vivek Agarwal 26 April 2016 at 11:55

What are Auditing Standards?The Standards on Auditing is an area which requires greater focus of CA in practice as well as our administrative bodies who are updating our members. The Companies Act 2013 has discussed it in detail which was absent in e

Transparency required in allotment of PSU and Bank Audit

CA Gopal Rathi 23 April 2016 at 11:59

Dear CA friends, Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF). There is

Ind AS12 on income taxes

P.R. Sethuraman 20 April 2016 at 11:52

What is tax expense?Tax expense (income) is the aggregate amount included for determination of profit and loss in respect of current tax and deferred Tax. Income tax relating to items charged or credited to other comprehensive income/equity is charge

Guidelines/Audit Programe for Bank Audits

Anmol 24 March 2016 at 18:34

Audit Program for Concurrent Audit Deposits/Accounting Opening/KYC All the documents required for opening of account as mention in account opening form(AOFs) should be obtained from the party and updated in the system

Combine Technology-Based Auditing Tools with BI Tools to Achieve Swift, Accurate Results

Arbuda Dave 24 March 2016 at 18:33

Whether internal or external, professional auditors have a profound responsibility to, and impact on, an organization. Auditing is required in every organization to ensure industry and governmental compliance and to assure management that policies an

IND-AS, Indian Accounting Standards

Shubham Gupta 22 March 2016 at 11:17

Indian Accounting StandardsOBJECTIVE The basic objective of Accounting Standards is to remove variations in the treatment of several accounting aspects and to bring about standardization in presentation. They intent to harmonize the diverse accountin