Audit Articles

Penalty of Rs. 2 lakh on Secretarial Auditor

CS Divesh Goyal 29 May 2023 at 15:11

While conducting the secretarial audit, each secretarial auditor must adhere to the requirements of the 2013 Companies Act. Inspecting is done by the Ministry in accordance with section 206(5) of the 2013 Companies Act.

Audit Trail and Importance of Access Control

CA Amrita Chattopadhyay 04 May 2023 at 11:55

The Ministry of Corporate Affairs vide notification dated March 24, 2021 issued the Companies (Audit and Auditors) Amendment Rules, 2021 which made various changes in Rule 11 of the Companies (Audit and Auditors) Rules, 2014.

Corporate Litigation: The Crucial Role of Board Oversight and Auditor's Responsibility

CA Sanat Pyne 02 May 2023 at 08:41

Corporate litigation refers to the legal disputes that arise between a company and another party, such as customers, shareholders, employees, suppliers, or regulators.

Everything about Audit Trail

CS Divesh Goyal 27 April 2023 at 09:29

In this article, the author shall discuss everything about the Audit Trail.

Lessons for auditors on professional conduct

Rashmi 24 April 2023 at 14:10

The National Financial Reporting Authority (NFRA) in India has imposed a penalty of ₹300,000 on the statutory auditor of now-de-listed company SRS Ltd, along with a three-year ban on taking up statutory or internal audits of any company, for alleged professional misconduct and lapses in the FY18 audit of the company.

A Comprehensive Guide to Auditing Property, Plant and Equipment (PPE) in India

CA Sanat Pyne 21 April 2023 at 08:52

Auditing Property, Plant, and Equipment (PPE) is an important task for any auditor. PPE is a significant asset for most companies and represents a substantial portion of their total assets.

An In-Depth Look at the Audit of Accounts Receivable and its Impairment Assessment

CA Sanat Pyne 19 April 2023 at 08:48

Accounts receivable refers to the money owed by customers to a business for the goods or services they have purchased on credit. It is an important part of a business's working capital and represents the amount of cash that the business can expect to receive in the near future.