Auditing Big Data

The difference between data and information is usually understood. Data is raw, and requires processing. Data can be simple but random and needs organization. When the data is processed, organized, analyzed and converted into information, then it is ready to... Read More →

Posted in Audit & Assurance, Risk Advisory |

Impact of COVID-19 on Presentation of Financial Statements, Consolidated Financial Statements, Property Plant & Equipment and Borrowing Cost

1.    Presentation of Financial Statements [Ind AS 1] Breach of loan covenants (including classification of liabilities into current and non-current) Ind AS 1- Due to COVID-19 there may be instances of breach of loan covenants which may trigger the liability... Read More →

Posted in Audit & Assurance |

Extension of Due Dates Due to Covid-19 Lockdown

INCOME TAX Nature of Compliance Relevant Period Original Due Date Extended Due Date Income Tax Return for [Belated return & Revised return] FY 2018-19 (AY 2019-20) 31st March 2020 30th June 2020 TDS Returns in Form 24Q/26Q   4th quarter... Read More →

Posted in Direct Tax, GST, Regulatory, Taxation |

Risk Management for ‘Black Swan’ Events and Business Continuity Plan

Why the term Black Swan is used so often in risk management because the risk managers feel the need to separately call out extreme impact events, regardless of probability and they pose an existential threat to a firm. Black Swan Definition ... Read More →

Posted in Risk Advisory |

Taxability of E-commerce Transactions

With the expansion of information and communication technology, the supply and procurement of digital goods and services have undergone exponential expansion everywhere, including India. Today is the Era of E-commerce which is significantly growing faster than the global economy as... Read More →

Posted in Direct Tax, Taxation |