Audit News

ICAI releases Exposure Draft of Standards on Auditing for LLPs

25 November 2023 at 08:49

Exposure Draft of Standards on Auditing for Limited Liability Partnerships

Posted in Audit | 3216 Views

Union Finance Secretary Envisions AI's Role in Transforming Auditing and Accounting

26 September 2023 at 08:46

The Union Finance Secretary, T.V. Somanathan, has expressed the view that Artificial Intelligence (AI) has the potential to replace some of the work currently done by auditors and accountants.

Posted in Audit | 5535 Views

Deloitte to quit as Adani Ports' auditor after flagging concerns

12 August 2023 at 14:00

Deloitte has decided to resign as the auditor of Adani Ports & Special Economic Zone Ltd. The decision appears to be linked to concerns over certain transactions highlighted in a report by Hindenburg Research.

Posted in Audit | 16299 Views

ICAI released Guidance Note on Tax Audit u/s 44AB of IT Act for AY 2023-24

24 July 2023 at 08:44

The Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 for the Assessment Year 2023-24.

Posted in Audit | 70278 Views

ICAI releases Exposure Drafts of SQM 1, SQM 2, SA 220 (Revised), SA 250 (Revised), SA 315 (Revised), SA 540 (Revised) and SRS 4400 (Revised)

12 July 2023 at 08:58

Exposure Drafts of SQM 1, SQM 2, SA 220(Revised), SA 250(Revised), SA 315(Revised), SA 540(Revised), SRS 4400(Revised)

Posted in Audit | 8955 Views

ICAI Extends Cutoff Date for Bank Branch Auditors Panel Preparation

01 July 2023 at 08:49

Cut-off date for the constitution of the firm and its members will now be as on 1st July, 2023 considering submission of Form 18 up to one month of submission (till 31st July, 2023) without condonation of delay

Posted in Audit | 12327 Views

One-Time Redressal Window made available for UDIN Modifications in O/o C&AG Application

27 June 2023 at 15:18

A One-Time Redressal Window is being made available for 3 days from 27.06.2023 to 29.06.2023

Posted in Audit | 6954 Views

Deloitte resigns as auditors of Byjus cites delay in providing financial statement of 2022

23 June 2023 at 08:59

Audit firm Deloitte has resigned as auditors of BYJU'S citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn.

Posted in Audit | 14049 Views

ICAI releases checklist on Standards on Auditing

23 June 2023 at 08:55

This Standard on Auditing (SA) establishes the independent auditor's overall responsibilities when conducting an audit of financial statements in accordance with SAs.

Posted in Audit | 13302 Views

ICAI organizes expert panel for addressing queries related to statutory audit pertaining to auditing aspects

18 April 2023 at 08:40

ICAI has decided to provide necessary support to the members in practice with respect to the Statutory Audit of Entities pertaining to auditing aspects with the objective of enhancing audit quality.

Posted in Audit | 1 comments | 6768 Views