Audit Articles

Importance of Internal Audit Report for the Statutory Auditor

Ca Jai Prakash Agarwal 12 December 2013 at 11:03

Internal Audit report is a very crucial document and if internal audit is carried our fairly, it contains lot of insights and information about the entitys operations. The statutor

Does an Internal Auditor require Industry Specialization?

Ca Jai Prakash Agarwal 03 December 2013 at 11:37

Internal Audit is a very important function and it is very important for an internal auditor to understand the basic functions of an organisation so as to conclude the internal audit assignment effectively. In case of in-house internal audit departm

MVAT Audit 2013 - Approach & Important Issues

Guest 27 November 2013 at 11:26

Applicability of audit under MVAT Act, 2002 To whom audit is applicable? As per Section 61(1) of the MVAT Act, 2002, audit is applicable to: A dealer who is liable to pay tax and his turnover, either of sales or purchases, exceeds Rs. 6

Internal Audit and Risk Management

Ca Jai Prakash Agarwal 23 November 2013 at 13:43

Internal Audit and Risk Management Whether Synonyms or something else. By CA Jai Prakash Agarwal M.Com, LL.B, ACMA, ACA, ACS, DISA (ICAI), DIRM (ICAI), UGC NET What is Risk Management? Risk management once a jargon has become a much kno

Preparing for Government Audit

Anurag 16 October 2013 at 13:06

EXPENDITURE AUDIT (M99,M07)(N01,N03,N06)(N11) Audit against Rules &Orders(M08) Is expenditure = in conformity with statutory provisions and financial rules and regulations? Functio

Audit Report for CA IPCC

Anurag 16 October 2013 at 13:05

AUDIT REPORT Draft an illustrative Audit Report u/s 227 of the Companies Act, 1956, with a few qualifications. Annexure u/s 227(4A) is not required. In this situation, we depict a case where the auditor was unable to obtain su

Audit Working Papers - CA IPCC

Anurag 08 October 2013 at 11:40

Audit Working Papers (M10, N11, M07, and N12) Theme If you havent documented, you havent performed SA 230 Audit Documentation (N08) Utility: Documen

Audit Trail in EDP: Audit CA IPCC

Anurag 05 October 2013 at 13:17

Audit Trail in EDP (N04) Audit is doable if one can relate one-to-one basis, the original input along with the final output a) In some situations, output is as complete and as detailed as in any manual system. E.g. Detailed calc

Preparation Strategies for Auditing & Assurance - IPCC Paper 6

Anurag 01 October 2013 at 19:11

Instead of giving you a blanket statement Study hard etc, I though would give you more strategic insights. There is no assurance that the strategy I enumerate would necessarily work for you in the Auditing paper. However given my pas

Preparation Strategy for Audit for CA Final

Anurag 20 September 2013 at 12:21

Advising someone on how to go about preparing for auditing is a tricky affair as I had adopted a very risky strategy.Luckily the gambit worked for me .But the same may not work for you. Actually it all depends on the question paper. Audit would alwa