Audit News


Year-wise Breakdown of CA Firms Serving as Statutory Auditors in PSBs Over the Past 3 Years

   05 December 2023 at 09:53

As per information received from RBI, Year-wise and PSBs-wise details of the total number of CA firms engaged as Statutory Central Auditors (SCA) and Statutory Branch Auditors (SBAs), in the last 3 years are annexed

Posted in Audit  1 comments |   19566 Views


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 |   3243 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 |   5553 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 |   16341 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The Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 for the Assessment Year 2023-24.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 |   70335 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 |   8979 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 |   12366 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 |   7005 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 |   14106 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 |   13344 Views



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