Articles by CA Amrita Chattopadhyay

Data analysis in internal audit of retail sector

CA Amrita Chattopadhyay 01 December 2020 at 11:34

The auditors have been using client data to form opinions and to understand financial transactions. In this article, we will discuss the data analysis of the retail sector.

Data analysis in accounts payable and accounts receivable - Audit perspective

CA Amrita Chattopadhyay 02 November 2020 at 16:51

For auditors, the main driver of using data analytics is to improve the quality of an audit. In this article, we discuss two important areas where the auditors need to concentrate.

Audit Procedures For Fraud Risks Identification In Internal Audit

CA Amrita Chattopadhyay 13 October 2020 at 15:42

The word 'Fraud” means wrongful or criminal deception intended to result in financial or personal gain. In this article, we have summarised four fraud risks and their corresponding audit procedures.

Restructuring of advances for MSME - Measure to overcome crisis due to pandemic

CA Amrita Chattopadhyay 07 September 2020 at 13:15

In a developing country like India, the role of MSME cannot be ignored if India wants to become a Self-Reliant India. It plays a vital role in employment generation in India

Accounting for corporate social responsibility

CA Amrita Chattopadhyay 10 August 2020 at 14:22

Section 135 of the Companies Act, 2013 requires the Board of Directors to constitute a Corporate Social responsibility Committee

Audit documentation requirement under COVID 19

CA Amrita Chattopadhyay 21 July 2020 at 12:05

Due to restrictions caused by the COVID 19 pandemic and the related lockdown, several restrictions are faced by the auditors in terms of visiting the client location, meeting with the client, obtaining of audit evidence

Going concern review under COVID-19

CA Amrita Chattopadhyay 03 July 2020 at 15:43

The COVID 19 pandemic has spread around the globe resulting in largest global recession in the history with more than one third of the global population being p..

Taxability of managerial remuneration

CA Amrita Chattopadhyay 22 June 2020 at 10:08

Directors, who are not the Employee of the Company, is the remuneration paid to such independent directors, or those directors, by whatever name called, who are not employees of the said company, is taxable in hands of the company, on RCM

Key findings of NFRA with regard to audit of ILFS

CA Amrita Chattopadhyay 06 January 2020 at 11:06

National Financial Reporting Authority (NFRA) constituted by Govt. of India to monitor and enforce compliance with Accounting and Auditing standard; had taken up the quality review of statutory audit of ILFS Financial Services Limited (IFIN) for the financial year 2017-18 to verify the compliance with the requirement of Auditing Standard.