Archives
Categories
-
Recent Posts
- GIST OF NOTIFICATIONS ISSUED ON 30th SEPTEMBER, 2019
- Clarifications in respect of option exercised under section 115BAA of the Income- tax Act, 1961 inserted through The Taxation Laws (Amendment) Ordinance, 2019- reg.
- Income Tax Return – Extensive Information asked
- RECOMMENDATIONS IN 35TH GST COUNCIL MEETING
- Some Major Changes through the GST Amendment Acts
Recent Comments
Category Archives: Audit & Assurance
A Note on Ind AS 116
The Accounting Standard Board has issued an exposure draft on Ind AS 116, Leases, with a proposed effective date of 1st April, 2019, subject to notification by Ministry of Corporate Affairs and Ind AS 116 supersedes Ind AS 17 ‘Leases’.
Posted in Audit & Assurance
Implementation Guide to Standard on Auditing (SA)701, Communicating Key Audit Matters in the Independent Auditor’s Report
The purpose of communicating key audit matters is to enhance the communicative value of the auditor’s report by providing greater transparency about the audit that was performed.
Posted in Audit & Assurance
Note on Internal Financial Controls Exemption for Private Limited Companies
Internal Financial Controls – Applicability on Private Limited Companies As per provisions of Section 143(3)(i) of companies Act, The Auditor Report shall state whether the Company has adequate internal financial controls system inplace and the operating effectiveness of such controls. … Continue reading
Posted in Audit & Assurance
Tagged audit assurance, ifc, Internal Financial Controls
The top five benefits of IT Auditing
Nowadays, for any business or organization, IT plays a major role. An IT audit is used to evaluate the information systems and the safeguards present to protect these systems. The purpose of the IT audit is to determine whether or … Continue reading
Posted in Audit & Assurance
Tagged IT audit, IT auditing