Category Archives: Audit & Assurance

Corporate Social Responsibility Under Section 135 of Companies Act 2013

Posted on March 17, 2023

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 as an instrument for integrating social, environmental, and development concerns … Continue reading →

Posted in Audit & Assurance |

Applicability of Internal Financial Controls (IFCs) on Private Limited Companies

Posted on March 7, 2023

Note on Applicability of Internal Financial Controls (IFCs) (Legal Status as at 25th February 2023) Internal Financial Controls (IFCs)– Applicability on Private Limited Companies As per provisions of Section 143(3)(i) of Companies Act,2013 (hereinafter referred as CA 2013), The Auditor … Continue reading →

Posted in Audit & Assurance |

Mandatory Evaluation of the Audit Quality Maturity of CA Firms using AQMM w.e.f. 1st April 2023

Posted on January 4, 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 →

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Applicability of Accounting Standards for Different Classes of Entities

Posted on December 14, 2022

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

Posted on December 1, 2022

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 |