Posted Date : 31-May-2013 , 03:50:44 pm | Posted By Gaurav Dhamija

COMPANIES (AUDITOR’S REPORT) ORDER, 2003 APPRAISAL NOTE   Applicability (Any of the Following)   1.    Paid – up capital and reserves of more than 50 Lacs. 2.    Has accepted any public deposit. 3.    Turnover exceeding Rs....

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Category : Auditing | Comments : 0 | Hits : 678

Posted Date : 31-May-2013 , 03:46:40 pm | Posted By Gaurav Dhamija

GENERAL PROCEDURES:     1.    Study the previous year’s income tax file of the concern maintained by the Chartered Accountant.   Documents which we have to study in the file said above:   a.     General information about the clien...

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Category : Auditing | Comments : 4 | Hits : 1268

Posted Date : 20-Apr-2013 , 06:33:33 pm | Posted By Chetan Nohvar

Following points needs to be considered while audit of personnel Department :‐   1. Under the Constitution of India, Labour is a subject in the Concurrent List where both the Central & State Governments are competent to enact legislation subject t...

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Category : Auditing | Comments : 2 | Hits : 2105

Posted Date : 20-Apr-2013 , 06:26:26 pm | Posted By Chetan Nohvar

Audit is a process or technique to verify the accuracy and reliability of the financial statement of  company/firm/proprietor/others.   It requires professional judgement to overcome certain dilemmas and take correct decisions while auditing. &...

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Category : Auditing | Comments : 2 | Hits : 1626

Posted Date : 25-Mar-2013 , 04:32:32 pm | Posted By Tejas Rupani

What things make difference between normal auditor and valuable auditor? More particularly I am focusing on article called as “More than Just Auditing” because we are leaving in a country which is emerging as a developed country by latest 2020. Now the time has come to create a value a...

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Category : Auditing | Comments : 1 | Hits : 932

Posted Date : 11-Mar-2013 , 01:07:13 pm | Posted By Vinay Sharma

Difference between Management and Those Charged With Governance (TCWG). For Accounting Professionals and Students it is very much of relevance to know the DIFFERENCE BETWEEN MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE (TCWG) in relation to SA-260 (Communication of audit matters to those charged ...

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Category : Auditing | Comments : 0 | Hits : 1721

Posted Date : 09-Mar-2013 , 06:30:08 pm | Posted By Vinay Sharma

INDEPENDENT AUDITOR’S REPORT To   The Shareholders   Report on the Financial Statements   1.             We have audited the accompanying financial statements of the ABC Bank Limited, which comprise the Balance...

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Posted Date : 26-Feb-2013 , 06:12:17 pm | Posted By Vinay Sharma

                                                                   INDEPENDENT AUDITOR’S REPORT   To ...

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Category : Auditing | Comments : 0 | Hits : 1492

Posted Date : 26-Dec-2012 , 11:01:39 pm | Posted By NAVNEET KUMAR JAIN

Extension of Last date for Filing of Cost Audit Report (CAR) and Cost Compliance Report (CCR) in the eXtensible Business Reporting Language (XBRL) mode. By Navneet Kumar Jain FCMA, MBA, LL.B., M.COM., PGDTL, LIII., AIIISLA   Keeping in view of the ongoing requests from differ...

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Category : Auditing | Comments : 0 | Hits : 1379

Posted Date : 07-Dec-2012 , 04:32:58 pm | Posted By ASP

The Companies Bill, 2011 provides for setting up of National Financial Reporting Authority (NFRA), an independent regulator for auditors, Parliament was informed. The authority would formulate accounting and auditing standards as well as monitor and enforce them among other things, Minister of C...

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Category : Auditing | Comments : 0 | Hits : 489

Posted Date : 23-Nov-2012 , 12:57:35 am | Posted By NAVNEET KUMAR JAIN

Difference in applicability of Cost Compliance Report and Cost Audit Report New Cost Audit Orders and its Comparision with earlier orders  By CMA Navneet Kumar Jain FCMA, MBA, LL.B., M.COM., PGDTL, LIII., AIIISLA   With issue of various circulars, cost audit orders a...

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Category : Auditing | Comments : 0 | Hits : 1565

Posted Date : 23-Oct-2012 , 06:57:20 pm | Posted By Preeti

  Pivot Tables - Excel Tool for Data Analysis  As we are all aware excel is widely used for accounting and financial purposes. In the past they were used only to perform basic maths, such as adding, multiplying, subtracting and dividing. Today's spreadsheets can be sign...

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Category : Auditing | Comments : 0 | Hits : 2542

Posted Date : 20-Oct-2012 , 09:32:04 pm | Posted By NAVNEET KUMAR JAIN

MCA to Review Cost Audit/Compliance Reports By CMA Navneet Kumar Jain FCMA, MBA, LL.B., M.COM., PGDTL., LIII., AIIISLA Festive season is on and the costing professionals along with Financial Heads of the organisations are busy in preparation of cost records and finalizing the same fo...

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Category : Auditing | Comments : 0 | Hits : 824

Posted Date : 08-Oct-2012 , 11:58:06 am | Posted By Mukul Gulati

A shift from Conventional Internal Audit to Risk Based Internal Audit   The present Internal Audit across small and mid-sized organization involves a dry review of Purchase, Sales, Operations, Finance and Payroll functions with results more likely to reveal...

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Category : Auditing | Comments : 0 | Hits : 809

Posted Date : 13-Sep-2012 , 12:40:47 pm | Posted By CMA Arif Farooqui

APPLICABILITY OF MAINTAINES OF COST RECORDS & COMPLIANCE CERTIFICATE MAINTENANCE OF COST ACCOUNTING RECORDS As per notification issued by Ministry of Corporate Affairs, dated 3rd June, 2011; The Companies (Cost Accounting Records), Rules 2011 shall apply to every company, including a foreign c...

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Category : Auditing | Comments : 0 | Hits : 1562

Posted Date : 13-Sep-2012 , 12:33:54 pm | Posted By CMA Arif Farooqui

                                     Cost Audit Orders - 2011 Ministry of Corporate Affairs has issued various Co...

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Category : Auditing | Comments : 0 | Hits : 709

Posted Date : 31-Aug-2012 , 03:38:27 pm | Posted By Mukul Gulati

Auditing - A Beginners Guide A couple of days before a new intern joined my firm, and believe me he was too frightened. He asked me that you all are involved in Auditing Line, so give me some tips so that it will help me out for my future projects. “Points to be considered wh...

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Category : Auditing | Comments : 0 | Hits : 1463

Posted Date : 31-Aug-2012 , 03:22:38 pm | Posted By Mukul Gulati

Ledger Scrutiny - Backbone of Statutory Audit So Professionals September season is going to start & I know everyone will be busy with their respective Audits. The same thing is happening with me & i am also fed up of 6 A.M TO 10 P.M Schedule. But if we look at the other side th...

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Category : Auditing | Comments : 0 | Hits : 4315

Posted Date : 04-Aug-2012 , 01:51:08 pm | Posted By Vikash Kumar Jha

Bank Concurrent Audit   Bank Concurrent Audit is a kind of internal audit where auditor responsibility is to review and correct assign bank branch internal control system. However compare to other internal audit, concurrent audit is little different; in concurrent audit auditor ...

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Category : Auditing | Comments : 6 | Hits : 11788

Posted Date : 04-Aug-2012 , 01:29:29 pm | Posted By Vikash Kumar Jha

An internal audit is conducted by the permanent staff of the same office to detect weakness in system, procedures and for the improvement. But statutory audit is the act of checking books of accounts as per the provision of company act. Both of them check books of account, detect errors and fraud...

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Category : Auditing | Comments : 4 | Hits : 2355