Articles by P.R. Sethuraman

Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

Posted by P.R. Sethuraman 30 January 2021 172567 Views

The purpose of the article is limited to the topic on Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

Internal Financial Control

Posted by P.R. Sethuraman 09 December 2017 28324 Views

The first and foremost duty of auditors with regard to Internal Financial Controls over Financial Reporting is to see and get satisfied as to the framework set in place as specified in the Guidance Note and as �declared in Directors

Corporate Governance - In retrospect

Posted by P.R. Sethuraman 08 February 2017 6082 Views

Corporate governance is a sine qua non. It is a must in a globalised environment.

Forensic Audit - A Modern Day Thrust and Thirst

Posted by P.R. Sethuraman 05 January 2017 18842 Views

Forensic Audit-a Modern Day Thrust and ThirstIntroduction: In the recent past, more so in the previous decade, accounting and auditing community witnessed and i...

Ind AS 19 on Employee Benefits

Posted by P.R. Sethuraman 03 June 2016 76867 Views

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

Ind AS12 on income taxes

Posted by P.R. Sethuraman 20 April 2016 76488 Views

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

Ind AS 110 on Consolidated Financial Statements (CFSs)

Posted by P.R. Sethuraman 09 April 2020 202537 Views

Ind. AS 110 on Consolidated Financial Statements (CFSs) Before the commencement of the Companies Act 2013, Consolidated Financial Statements are the SEBI requirements for the Listed Companies. But, the Companies Act 2013 mandates

Ind AS 103 on business combination

Posted by P.R. Sethuraman 09 May 2023 218582 Views

�Comb� as everybody knows is used to untangle, arrange smooth out, straighten and neaten the hair by drawing the comb through it. Therefore, the �comb�, in the context of �Business combi

Measurement of Debt Instruments under Ind AS

Posted by P.R. Sethuraman 06 January 2016 44019 Views

Financial Instruments are valued either at amortised cost or at fair value. Fair value valuation could be either by fair value through Profit and Loss or Fair value Through Other Comprehensive Income; the latter could be transferred on de-recognition

Disclosure norms - Living Figures vs. Book Figures

Posted by P.R. Sethuraman 01 December 2015 5709 Views

The word �close� has dynamically two different meanings depending upon the usage either as a verb or otherwise. If one says he is close to you, it means he is nearer to you either by distance or conception. If the same is used as �v