Audit Articles

Materiality and its relevance in audit

Lavina Goyal 23 December 2022 at 08:44

Materiality is a Benchmark used to obtain reasonable assurance that an audit does not detect any material misstatement that can significantly impact the usability of financial statements.

Audit and Accounts

P.R. Sethuraman 15 December 2022 at 10:39

Debits and credits are twins of Accounting, On which depend the efficacy of Accounts.

Audit of Sundry Debtors: An Overview

CA Ramanujan Sharma 30 November 2022 at 08:47

In this article author has tried to simplify the procedure to be followed while conducting audit of the Debtors in a brief manner

Professional Skepticism: The Heart Of Audit, The Guide To Life!

Ishwin Kaur 19 November 2022 at 17:27

The Heart Of Audit - Professional Skepticism simply means having a questioning mind. It means being aware and alert of anything and everything, that may indicate possible misstatement due to error or fraud.

All about integrated reporting

Jyoti Mittal 04 November 2022 at 14:00

Integrated reporting is founded on integrated thinking which helps to demonstrate the interconnectivity (co-creation) of strategy, strategic objectives, performance, risk and incentives which further helps to identify the sources of value creation.

Non-Compliances related to Auditor's Report

CA Rakesh Ishi 24 October 2022 at 08:07

It was observed that the separate section on going concern was not reported by the auditor as required by SA 570 (Revised)

Issue of notices and Review of Cost Audit Reports by MCA: A warning signal for Auditors and Directors

CMA Navneet Kr Jain 14 October 2022 at 08:56

The government has started relying on the professional and has given certain certification powers to the professionals who are being regulated by the professional Institutes.

Corporate Governance Review/Audit

Gopinath Vedula 04 October 2022 at 16:14

For the purpose of recapitulation of some of the important aspects, an effort is made to undertake objective review of the various aspects of modern CG which might also serve as a checklist.

Checklist for Statutory Audit - Documents to be obtained

CA Ramanujan Sharma 27 September 2022 at 08:49

In this article author has tried to brief the procedures to be followed while conducting a statutory audit in a brief manner.

Management Representation Letter (MRL) for Audit

CA Ramanujan Sharma 26 September 2022 at 08:42

In this article, the author has shared the format of the Management Representation Letter or Written Representation (MRL/WR) to be obtained from the management during various professional engagements