Step wise Human Resource Audit with Checklist and its Benefits
Posted Date : 02-Aug-2023 , 08:40:07 pm | Posted By
NIKITA AGARWAL
A human resource audit is a comprehensive review and evaluation of an organization's HR policies, practices, and procedures. It helps identify strengths, weaknesses, and areas for improvement in the HR function.
Here are the steps to conduct a human resources audit, along with examples:-
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Category : Auditing |
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Auditor's of the Major Companies of Adani Group and Payments to Adani's Auditors for the FY 2021-22
Posted Date : 13-Feb-2023 , 10:38:06 pm | Posted By
CA.Khurana Vivek
Auditor's of the Major Companies of Adani Group and Payments to Adani's Auditors for the FY 2021-22. Adani Group - Major Group Companies:- Adani Enterprises Limited. Adani Ports and Special Economic Zone Limited. Adani Power Limited. Adani Transmission Limited. Adani Green Energy L...
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Category : Auditing |
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Policy of Empanelment of CA Firms/LLPs and Selection of Auditors from 2021-22 onwards
Posted Date : 18-Jan-2021 , 09:15:32 am | Posted By
CA.Khurana Vivek
A. Empanelment of CA firms/LLPs Chartered Accountant firms (firms) and Limited Liability Partnerships (LLPs) in India with at least one full time [1] FCA (Partner/Sole Proprietor) can apply for empanelment with this office for the purpo...
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Category : Auditing |
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Accounting of Compensatory Absences (Leave Encashment Obligations)
Posted Date : 12-Sep-2020 , 03:24:26 pm | Posted By
TIKARAM CHAUDHARY
This article is based on my understanding whilst providing support services in the matter of financial reporting in compliance of AS 15 (Revised 2005), IndAS 19 & IAS 19 (Revised 2005) . The note reflects only my personal understanding and perception of the subject. The readers should ...
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Category : Auditing |
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Forensic Accounting and Auditing - An opportunity in today's world
Posted Date : 23-May-2020 , 05:31:17 pm | Posted By
Shankit Sharma
What Is Forensic Audit- Forensic Audit is an examination of evidence regarding an assertion to define its correspondence to established criteria carried out in a manner suitable to the court. For example, a forensic audit of sales records to determine the quantum of rent owing under a lease agreemen...
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Category : Auditing |
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REMOTE BANK AUDIT: A VALUABLE TOOL DURING PANDEMIC
Posted Date : 20-May-2020 , 09:49:17 pm | Posted By
Supriya Dewan
REMOTE BANK AUDIT: A VALUABLE TOOL DURING PANDEMIC What is Remote Auditing??? The remote audit also may be referred to as E Auditing is exactly same as an audit but in involves use of electronic means to collect Audit Evidence. Remote Auditing techniques involve sharing files via email, Googl...
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Category : Auditing |
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CARO 2020: A TOOL FOR BETTER CORPORATE GOVERNANCE- INCREASED ONUS ON AUDITORS
Posted Date : 11-May-2020 , 10:25:19 pm | Posted By
Supriya Dewan
CARO 2020: A TOOL FOR BETTER CORPORATE GOVERNANCE- INCREASED ONUS ON AUDITORS
CARO 2020 is a contemporary layout for issuance of audit reports in case of statutory audits of companies under Companies Act, 2013. After debates with the National Financial Reporting Authorit...
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Category : Auditing |
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AREAS OF FOCUS AND AUDITOR REPORTING ISSUES RELATED COVID 19
Posted Date : 10-May-2020 , 08:14:59 pm | Posted By
Supriya Dewan
AREAS OF FOCUS AND AUDITOR REPORTING ISSUES RELATED COVID 19
BACKGROUND:
The COVID –19 outbreak is a human tragedy and has a growing impact on global economy which has resulted in “severe demand shock” and global supply chain disruptions. However, the actual severity and duration...
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Category : Auditing |
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RESTRUCTURING & RELIEF TO MSME BORROWER’S- AUDITOR’S PRESPECTIVE
Posted Date : 24-Apr-2020 , 08:22:17 pm | Posted By
Manoj Gupta
MSME plays an important role in our economy. This sector contributes significantly to the Indian Economy in terms of Gross Domestic Product (GDP), Exports and Employment generation. Understanding its difficulties, RBI from time to time has come out with host of measures to provide relief to t...
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Category : Auditing |
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Important Points for Bank Audit 2019
Posted Date : 24-Mar-2019 , 06:30:59 pm | Posted By
Mahesh Bansal
Many of you may have been allotted bank branch audits. I congratulate them heartily. Today, I am sharing with you few things to keep in mind while going for bank branch audit this time. It will be very much relevant for the members performing statutory audits: 1. In view of RBI circulars date...
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Category : Auditing |
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Internal Audit Basics
Posted Date : 05-Jan-2019 , 06:44:24 pm | Posted By
Kamal Garg
The Internal audit function is very popular day by day due to its advantages to the organisations. There are so many Guidance Notes, Standards on Internal Audit (SIA) and books published on the subject in detail. The Guidance Note contains the Internal Audit industry wise and are informative. ...
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Category : Auditing |
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List of audit firms approved for appointment as Statutory Central Auditors in Public Sector Banks
Posted Date : 02-Jan-2019 , 09:59:17 am | Posted By
CA.Khurana Vivek
List of audit firms approved for appointment as Statutory Central Auditors in 21 Public Sector Banks for the year 2018-19
Sl. No.
Name of the BankStatutory Central Auditors for the year 2018-19
1
Allahabad Bank
1. M/s Nandy Halder & Gangul...
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Category : Auditing |
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New reporting requirement in Auditors' Report 2017
Posted Date : 19-Aug-2017 , 02:10:39 pm | Posted By
ANAND KUMAR GUPTA
New reporting requirement in Auditors’ Report Under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013
The Ministry of Corporate Affairs vide notifications dated March 30, 2017 has notified the Companies (Audit and...
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Category : Auditing |
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Future of audit with Big Data & Analytics
Posted Date : 16-Jan-2017 , 10:55:58 am | Posted By
Bhinang Tejani
Knowledge of IT would be an integral part of auditing now like a good icing on the cake of traditional competencies in auditing. Lets discuss some of the key issues future auditors may face: 'Big data' is an extremely large data sets of company that may be analysed computationally to reveal pat...
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Category : Auditing |
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Short Summary of RBI CIRCULARS on DMONETIZATION
Posted Date : 10-Jan-2017 , 02:17:17 pm | Posted By
Pradeep Jain
Provision of Exchange Facility of SBN : 08.11.2016 RBI/2016-2017/112
the SBN of aggregate value of ₹ 4,000/- or below may be exchanged for any denomination of bank notes having legal tender character, with a requisition slip in the format specified by the Res...
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Category : Auditing |
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Death of the Independence of the auditor
Posted Date : 19-Apr-2016 , 01:25:07 pm | Posted By
CA GOURAV MURARKA
Forwarded mail copy as received : Very serious allegations by Chartered Accountant on independence of Auditor. 15th April 2016 To The AGM Audit Patna Circle State Bank of India
Sub: Death of the Independence of the auditor
Dear Sir,
Our Team for Statu...
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Category : Auditing |
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Basics of Risk Assessment
Posted Date : 18-Feb-2016 , 01:59:11 pm | Posted By
Hemang Doshi
Basics of RISK ASSESSMENT
Million Dollar Question: What is RISK? The reason why I refer it as a million dollar question lies in
definition(s) of term ‘RISK’. The term ‘RISK’ has been defined in multiple ways and it can be
accommodated anywhere anytime and in any situation ...
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Category : Auditing |
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Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2015-16
Posted Date : 15-Feb-2016 , 06:29:51 pm | Posted By
CA.Khurana Vivek
Sr No Auditors appointed for 2015-16
1.
Allahabad Bank, Kolkata
1
M/s N C Banerjee & Co., Kolkata
2
M/s Kansal Singla & Associates, Chandigarh
3
M/s Raju & Prasad, Hyderabad
4
M/s De & Bose, Kolkata
5
M/s G N S & Associates, Bhubaneshwar
...
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Category : Auditing |
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Corporate Social Responsibility
Posted Date : 08-Oct-2015 , 11:42:15 am | Posted By
Mohit Garg
Corporate Social Responsibility
- Introduced in Company Act 2013.
Application of CSR:
If any of the following conditions are satisfied CSR will be applicable: 1. Company having Net worth of Rs.500 Cr or more. 2. Turnover of Rs.1000 Cr or more. 3. Net profit of Rs.5 Cr or more...
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Category : Auditing |
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Stock Audit Basics & Checklist of Documents Required.
Posted Date : 03-Oct-2015 , 11:48:58 am | Posted By
CA. Niket Agarwal
What is a Stock Audit?
It is the physical verification of the inventory. However at times it may also include valuation of the inventory, this would depend upon the terms of reference or the engagement letter of the assignment.
Important thing to remember in a stock audit is the purpose ...
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Category : Auditing |
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Applicability of CARO-2015
Posted Date : 30-Jun-2015 , 01:41:43 pm | Posted By
MD TASLEEM AHMAD KARIMI
Introduction & Background
In Exercise of the power Conferred by Sub section 11 of Section 143 of the Companies Act, 2013 and in Supersession of the Companies (Auditor’s report) order, 2003, the Central Govt. after consultation with the Institute of Chartered Accountant of India make Com...
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Category : Auditing |
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What is Internal Audit?
Posted Date : 24-Apr-2015 , 05:59:19 pm | Posted By
Tanmay Srivastava
What is Internal Audit?
Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing systematic , disciplined approach to eval...
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Category : Auditing |
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Peer Review benefits for Practicing CA Firms
Posted Date : 08-Mar-2015 , 08:07:45 pm | Posted By
Vimmi
We, the Chartered Accountants Fraternity, are all aware of the peer review process undertaken by the Peer Review Board of ICAI for the practicing member. With recent development in the reporting requirement of the financial statements, the peer review exercise helps the members of the profession at ...
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Category : Auditing |
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Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks
Posted Date : 24-Feb-2015 , 11:07:37 pm | Posted By
CA.Khurana Vivek
Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks
(i) The auditing firm shall have a minimum 7 full time chartered accountants, of which at least 5 should be full time partners exclusively associated with the firm. The remaining 2 coul...
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Category : Auditing |
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Procedure for Appointment of Statutory Auditors in Public Sector Banks
Posted Date : 24-Feb-2015 , 11:00:03 pm | Posted By
CA.Khurana Vivek
PROCEDURE FOR APPOINTMENT OF STATUTORY AUDITORS IN PUBLIC SECTOR BANKS.
Statutory Central Auditors (SCAs)
1. The number of SCAs to be appointed in PSB will be as under:
i) Category “A” Banks (Large Banks viz. Bank of Baroda, Bank of India, Canara...
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Category : Auditing |
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Procedure for Conducting Concurrent Audit of Banks
Posted Date : 08-Feb-2015 , 04:21:57 pm | Posted By
Vimmi
Areas to be Covered
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 auditing, concurrent audit is little different; in concurrent audit auditor seats in branch for...
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Category : Auditing |
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How to check Purchases
Posted Date : 22-Oct-2014 , 12:31:04 am | Posted By
Ankur Dudani
How to check Purchases in any organisation during Audit:-
Remember that during audit/auditing whatever document you take from client take his signature on the same basically its a approval from client side that we provided the document to auditor and the provided document discloses correct informat...
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Category : Auditing |
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MAJOR CHANGES IN NEW 3CD
Posted Date : 29-Jul-2014 , 09:59:52 am | Posted By
CA GOURAV MURARKA
1. Particulars of registration under excise, vat, iec, service tax etc to be given
2. Location(s) (address(s)) of keeping books of accounts to be given
3. Particulars of sale of Land/Building less than Stamp value to be given
4. Comparison of amount debited vis a vis amoun...
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Category : Auditing |
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How to Conduct Concurrent Audit of Banks
Posted Date : 22-Jul-2014 , 07:59:24 pm | Posted By
Vimmi
Areas to be Covered
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 seats i...
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Category : Auditing |
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0 | Hits : 1115 |
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Types of Audit under Companies Act
Posted Date : 15-Jan-2014 , 11:55:35 am | Posted By
Madhur Gupta
TYPES OF AUDIT UNDER COMPANIES ACT
Rajya Sabha recently passed the companies Bill 2012.The new legislation, which would replace the nearly 50-year old Companies Act, 1956 and would encourage companies to undertake social welfare voluntarily instead of imposing the social responsibility.Audi...
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