Last for Submission of Cost Audit/Compliance Report Extended
Posted Date : 27-Jul-2012 , 07:44:46 am | Posted By
NAVNEET KUMAR JAIN
Extension in last date of Filing of Cost Audit Reports or Cost Compliance Reports:
Last Date Extended upto 31/12/12
By Navneet Kumar Jain
FCMA, MBA, LL.B., M.COM., PGDTL, LIII., AIIISLA
Normally July to September is the time for finalization of audits especially Financ...
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Category : Auditing |
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Summary of checklist for conducting concurrent bank audit
Posted Date : 11-Jul-2012 , 04:42:02 pm | Posted By
CA ISHA MARFATIA
KYC checking:
For New account
1) Name of the account holder
2) Type of a/c saving/current/time/advance
3) A/c no
4) A copy of verified Identity proof
5)&...
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Category : Auditing |
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ICAI defers applicability of Auditing Standard SA 700 (Revised), 705, 706 to 1st April, 2012
Posted Date : 18-Apr-2012 , 12:58:30 pm | Posted By
CA Vikas Maheshwari
IMPORTANT ANNOUNCEMENT:
Important Announcement on revised Effective Date/ Applicability of three Standards on Auditing, namely –
- SA 700 (Revised), “Forming an Opinion and Reporting on Financial Statements”;
- SA 705, “Modifications to the Opinion in the In...
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Category : Auditing |
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Analytical procedures
Posted Date : 15-Apr-2012 , 09:41:46 am | Posted By
Kishore Bolisetty
Analytical Procedures mean the analysis and comparison of financial statements with an intention to identify the potential risk areas of the business.
Financial statements show the income, expenses, assets, liabilities and share capital. When we calculate different ratios by creating relation...
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Category : Auditing |
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Risk based Internal Audit
Posted Date : 23-Mar-2012 , 02:51:09 pm | Posted By
CA Akshay Joshi
Parallel to the great upsurge another factor that hunting the board room of the corporate are "Risk". There can be any type of the risk whether it is liquidity risk, fraud risk, reputation risk, competition risk and sundry other risks. Thus the internal audit pr...
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Category : Auditing |
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Statutory Auditors of Construction/Real Estate Companies to exercise caution
Posted Date : 22-Mar-2012 , 11:21:46 pm | Posted By
NAVNEET KUMAR JAIN
Applicability of Cost Records in Real Estate/Construction Industry
Statutory Auditors of Construction/Real Estate Companies to exercise caution
By Navneet Kumar Jain, Practising Cost Accountant, Delhi
Till the year 2010-11, cost records were required to be maintained for companies in ...
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Category : Auditing |
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Revised Branch Audit Limit
Posted Date : 22-Mar-2012 , 08:27:08 pm | Posted By
CA Mordhwaj Garg
RBI revised Branch Audit Limit 20 Crore to 6 Crore.
...
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Category : Auditing |
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Social Audit
Posted Date : 19-Mar-2012 , 03:51:04 pm | Posted By
Mrattunjay
Every organization obtains critical inputs from the environment and converts them into products and services to be used by society at large. As such, it is not a money spinning machine alone; it has to take care of societal interests in all its operation. It is not therefore supposed to pollu...
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Category : Auditing |
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Art of Internal Auditing
Posted Date : 07-Mar-2012 , 10:54:02 am | Posted By
SHIKHA SONI
Now, the world is in twenty first century, everywhere changes could be visualised but with respect to accounting, auditing etc, where is the change? Modern organisations have become more sophisticated and thus resulted in decentralisation of their activities and consequently the top ma...
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Category : Auditing |
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Cost Audit Applicability: 2011-12 and 2012-13
Posted Date : 23-Feb-2012 , 06:02:24 am | Posted By
NAVNEET KUMAR JAIN
Cost Audit Applicability: 2011-12 and 2012-13
Maximum Organisations Covered vide new Cost Audit Orders dated 24 Jan 2012;;;
The Ministry of Corporate affairs has issued various Cost audit orders since 2/5/2011 and the latest cost audit order has been issued on 24/01/2012. Various industri...
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Category : Auditing |
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TA-TA BYE-BYE Bank Audits
Posted Date : 08-Feb-2012 , 07:52:08 pm | Posted By
CA Mordhwaj Garg
A worst situation has emerged for the Bank audit 2012 assignments. It seems that there will not be Branch Bank Audits for category III & Category IV firms this year. The RBI has diluted its stand but still gunning for 30 Crore & 50 Crore norms for Branch Audit.
...
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Category : Auditing |
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Know Your Unique Code Number
Posted Date : 07-Feb-2012 , 12:42:29 pm | Posted By
CA Mordhwaj Garg
Unique Code Number for Bank Audit of F.Y. 2011-2012 are the below link:-
http://www.mefcai.org/know_ucn.html
...
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Category : Auditing |
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Governance and Risk Management Failures Contributed to Failure of Major UK Bank - Marks on Governanc
Posted Date : 31-Dec-2011 , 10:55:37 am | Posted By
Abhishek Shukla
Governance and Risk Management Failures Contributed to Failure of Major UK Bank
Norman Marks, CRMA, CPA, is a vice president for SAP and has been a chief audit executive and chief risk officer at major global corporations for more than 20 years.
The UK&r...
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Category : Auditing |
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2 | Hits : 556 |
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Forensic Auditing -Concept
Posted Date : 21-Dec-2011 , 09:39:48 am | Posted By
Arpit Khetan
FORENSIC ACCOUNTING- Concept
Forensicauditing is a comprehensive auditing tool. Once it is completed, the organization's key stakeholders should capitalize on the work by implementing controls to reduce the risk associated with the event ide...
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Category : Auditing |
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INDIA'S MISTERY SHOPPERS...NEW EXTERNAL AUDIT MECHANISIM
Posted Date : 28-Nov-2011 , 03:39:26 pm | Posted By
INDRANEEL SEN GUPTA
Stiff competition on the streets among consumers has leaded every business to sales its products under various non festive promotional offers. So many brands and so many choices has lead consumers to choose from a wide variety of choices whereas companies has to face tough comp...
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Category : Auditing |
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Points useful while doing auditing
Posted Date : 12-Oct-2011 , 07:04:10 pm | Posted By
AKHIL MAHESHWARI
Ø REGARDING TDS
Ø REGARDING BONUS
Ø REGARDING FBT
Ø REGARDING PURCHASE
Ø REGARDING PROVIDENT FUND
Ø REGARDING ...
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Category : Auditing |
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Audit procedure of Manufacturing company
Posted Date : 18-Sep-2011 , 04:36:41 am | Posted By
Vikas
1) Brief history about the clients nature of business:
First of all if u want to carry an audit to any manufacturing company, U should have a brief knowledge about the client’s nature of business, what are the activities they are carrying, what is the procedure they are following while ma...
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Category : Auditing |
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Mandatory Cost Audit or Cost Compliance
Posted Date : 30-Jun-2011 , 09:38:49 am | Posted By
NAVNEET KUMAR JAIN
Latest amendment with relation to Cost Records (Sec 209(1)(d) and Cost Audit (Sec 233B) of Companies Act to be complied from the year 2011-12 onwards
Sir,
Ministry of Corporate Affairs has recently issued various notifications/circulars relating to cost records and Co...
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Category : Auditing |
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Learn CARO Sequentially
Posted Date : 24-May-2011 , 07:07:07 am | Posted By
Rohit
Read the given para to memorise sequentially CARO Points in few mins :-
Fixed Inventory Loan on Internal Register of Public deposit for Internal Audit & Cost Records w...
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Category : Auditing |
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Audit Procedure for Manufacturing Companies
Posted Date : 12-May-2011 , 12:14:43 pm | Posted By
Madhu Kiran
Has to know brief history about the clients nature of business:
First of all if u want to carry an audit to any manufacturing company, U should have a brief knowledge about the client’s nature of business, what are the activ...
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Category : Auditing |
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1 | Hits : 3866 |
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