RBI/2015-16/133 DBS.CO.ARS.No. BC. 2/08.91.021/2015-16 July 16, 2015 The Chairman & Managing Director/ Chief Executive Officers of all Scheduled Commercial Banks (other than Regional Rural Banks) Dear Sir Concurrent Audit System […]
Audit
SA 501 – Audit Evidence- Specific Considerations for Selected Items
Audit Evidence- Specific Considerations for Selected Items Introduction This SA deals with specific consideration by an auditor to obtain sufficient & appropriate audit evidences with aspect to certain aspects of:- […]
Summary of SA 570 – Going Concern
Summary of SA 570 Going Concern Going concern An accounting assumption on which the financial statements of an entity are prepared that the business will go forever & forever. […]
SA 580 – Written Representations
Summary of SA 580 Written Representations Meaning A written statement Who obtains the written representation? Auditor From whom Management or; TCWG, where applicable Purpose To confirm certain matters or; To […]
Summary of SA 265 – Communicating Deficiencies in Internal Control to TCWG
Summary of SA 265 Communicating Deficiencies in Internal Control to TCWG Deficiency in internal Controls When internal controls required to prevent, detect or correct material misstatements on timely basis […]
Summary of SA 230 – AUDIT DOCUMENTATION
Summary of SA 230 AUDIT DOCUMENTATION Audit documentation Records of v Audit procedures performed, v Relevant audit evidences obtained,& v Conclusions the Auditor reached. Who prepare the Audit Documentation? Auditor […]
Summary of SA 240 – The Auditor’s Responsibility Relating to fraud in an Audit of Financial Statements
Summary of SA 240 The Auditor’s Responsibility Relating to fraud in an Audit of Financial Statements 1. Summary of SA 240 The Auditor’s Responsibility Relating to fraud in […]
What is meant by audit of books of account?
Auditing means checking the correctness and genuineness of your accounts and verifying whether accounting principles and standards have been properly followed in conduct of your business and preparation of accounts. […]
Summary of SA 210 – Agreeing Upon the Terms of Engagement
Summary of SA 210 Agreeing Upon the Terms of Engagement Audit Engagement Letter A Written Document containing all the conditions or premises or a base upon which the auditor […]
Changes made in Form 3CD – Income Tax Audit (Statement of Particulars required to be furnished under section 44AB)
As you may be kindly aware that the due date for filing the tax audit report in Form No 3CA/3CB/3CD is 30th September, 2017 for AY 2017-18. In this regard, we […]