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- Co. Law Rules Changes
- Extension of time limit for compliance to be made for claiming exemption under Section 54 to Section 54GB
- Mandatory Evaluation of the Audit Quality Maturity of CA Firms using AQMM w.e.f. 1st April 2023
- Changes on Foreign Investments in Alternate Investment Funds (AIFs)
- Applicability of Accounting Standards for Different Classes of Entities
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Category Archives: Audit & Assurance
Mandatory Evaluation of the Audit Quality Maturity of CA Firms using AQMM w.e.f. 1st April 2023
Background This mandate comes about a year after the launch of the AQMMv1.0 by the Centre for Audit Quality (CAQ) of ICAI in July, 2021. The revised AQMM rev v1.0 has been arrived after incorporating two changes in the … Continue reading
Posted in Audit & Assurance
Applicability of Accounting Standards for Different Classes of Entities
Overview In order to make Financial Reporting of an entity comparable, transparent, complete and unbiased, different standards are issued from time to time. At present, there are three sets of Accounting Standards: – Indian Accounting Standards (Ind AS) notified under … Continue reading
Posted in Audit & Assurance
Corporate Social Responsibility Under Section 135 of Companies Act 2013
Corporate Social Responsibility Under Section 135 of Companies Act 2013 Background The importance of inclusive growth is widely recognized as an essential part of India’s quest for development. In line with this national endeavor, Corporate Social Responsibility (CSR) was conceived … Continue reading
Posted in Audit & Assurance
RBI Guidelines for Appointment of Statutory Central Auditors/ Statutory Auditors of Commercial Bank, UCBs and NBFCs
The RBI Circular issued on 27th April 2021 prescribed a set of selection criteria for appointment of Statutory Central Auditors/Statutory Auditors of Commercial banks (excluding regional rural banks), urban co-operative banks(UCBs) and non-banking financial companies(NBFC) including housing finance companies based on … Continue reading
Posted in Audit & Assurance
Revision on Accounting Standards applicability criteria for classification of Non-company entities [Applicable w.e.f 01.04.2020]
The Accounting Standards board of ICAI, at its 400th meeting, held on March 18-19,2021, has “significantly simplified the accounting standards applicability criteria for Micro and small size non-company entities” The primary update to the applicability is the introduction of a new category … Continue reading
Posted in Audit & Assurance