Audit Articles

Points to be considered while acquiring a company

Manikanta Raju CA,CWA,(CS) 16 June 2010 at 10:55

Now a day’s cross border transactions, mergers and acquisitions became quite common in a regular business phenomenon. In this article I will discuss a few points as a course of initial observations to be considered while acquiring company- 1)

EOU and its difference with SEZ

Manikanta Raju CA,CWA,(CS) 14 June 2010 at 11:52

Exported Oriented Units: Units undertaking to export their entire production of good & services may be set up under the EOU scheme Procedural Aspects: Application for setting up, to be made to- ü ‘Board of approval ‘ (BOA) for

Peer Review documentation-Auditees prespective

CA Umesh Sharma 04 June 2010 at 16:16

Documentation by PU for peer review process The Peer Review Statement does not lay down any requirement for maintaining documents by the practicing unit. However, Standard on Auditing (SA) -230 “Documentation” which is mandatory from 1s

Concept of SEZ

Manikanta Raju CA,CWA,(CS) 02 June 2010 at 11:31

Query-1: What is the concept of SEZ??? Clarification: SEZ is a “Specifically delineated duty free enclave”……. Let me explain this with an example ------ “Think of sitting in a library and studying and that the libr

Traditional Vs Modern Techniques of Auditing

Varun.T.K 20 May 2010 at 12:39

The concept or the vision of auditing has been subject to many changes during the recent eras. In fact, the approach towards auditing as a tool of check seems to have given many definitions in each period. Since the environment is constantly chan

Audit of GR/IR Clearing Accounts

Ramanreet Singh 13 May 2010 at 12:16

GR/IR CLEARING ACCOUNTS IN SAP GR/IR stands for Goods Receipt/Invoice Receipt.GR/IR clearing accounts are basically intermediate accounts found only in the SAP ERP Module. Goods Received / Invoice Receipts Process The Goods Received / Invoice Rece

Role of Due Diligence in the Upcoming Scenario

Prasanth Nair V 20 March 2010 at 11:41

Role of Due Diligence in the Upcoming Scenario We are aware of the term Due Diligence, as we are frequently coming across during our audits. But how many of us, really know what it pertains to. If u want to know its exact meaning and implications,

Stock Audit of Bank Borrowers

CA Pranjal Joshi 25 January 2010 at 11:55

Stock Audit of Bank BorrowersCA Pranjal Joshi Introduction – Working capital finance in the form of cash credit against the security of hypothecation of stock and debtors is one of the most common modes of finance frequently adopted by various

ANALYTICAL REVIEW

CA.Parsun Garg 12 December 2009 at 18:22

ANALYTICAL REVIEW The two main functions of analytical review are: To provide the client with supplementary useful information in addition to the annual accountsØ To identify critical audit areas in audit planningFor the purpose of a fundament

DISCLOSURE REQUIREMENTS AS PER SCHEDULE VI (PART I) Co. Act

CA.Parsun Garg 01 December 2009 at 13:25

BALANCE SHEET DISCLOSURE REQUIREMENT AS PER SCHEDULE VI (PART I) OF THE COMPANIES ACT, 1956 1.GeneralThe Balance Sheet of the Company shall be either in horizontal form or vertical form. Except in the case of the Balance Sheet laid before the compan