AUDIT
Audit trail Feature is mandatory for accounting software of Company
RJA 26 Mar, 2023
Audit Trail compulsory to be installed in accounting software by Companies w.e.f. 01.04.2023 1. Every business made mandatory incorporate the audit trail capability into the accounting software with effect from 1 April, 2023, it utilizes for maintains its books of account. 2. An edit log should be included in ...
AUDIT
Reserve Bank of India Revised the Branch Statutory Audit Policy
RJA 01 Mar, 2023
The Reserve Bank of India Revised the Branch Statutory Audit Policy · For the Financial Year 2022-23 - ONLY 70% of Fund & Non Fund Credit Exposure to be covered under statutory audit of Bank/ statutory audit Branch Audit · &...
AUDIT
Compliance of CARO order deferred by one Year: MCA
RJA 14 Jan, 2022
Compliance of CARO order deferred by 1YR: MCA MCA defers the applicability of CARO 2020 to FY 2021-22: MCA Order dated 17.12.2020 changed the date of operation of the Order of the Companies (Auditor's Report) 2020 to the financial years starting on or after 1 April 2021. As a result, the Companies (Auditor&...
AUDIT
Importance of Internal Audit in India
RJA 08 Oct, 2021
Importance of Internal Audit Checking the internal system is that the most frequent task. Several types will be distinguished here: audit, operational audit, compliance audit (compliance audit), audit of knowledge technology (information systems), audit within the field of environmental ...
AUDIT
ASSESSMENT OF BUSINESS FOR FUTURE SUCCESS
RJA 18 Sep, 2021
ASSESSMENT OF BUSINESS FOR FUTURE SUCCESS BRIEF INTRODUCTION In today’s world, internal audit has attained greater attention, with the growth and expansion in corporates and organizations. Many large enterprises and corporations choose to create their internal audit services and departments, training their employees. When deciding ...
AUDIT
Internal audit strives to add value to organizations valuation
RJA 18 Sep, 2021
INTERNAL AUDIT Internal audit is the best tool for identifying opportunities to enhance the efficiency of activities, allowing you to get the information necessary to realize the goals and solve the issues facing the subject within ...
AUDIT
Assessment of Business Risk for future success,
RJA 18 Sep, 2021
ABOUT BUSINESS RISK In an extremely complex and dynamic environment, an auditor is vested with the responsibility to consider various risks associated with the business and the same be inculcated in their audit plan. Audit principles and methodologies frequently use the concept of risk to raised orient audit ...
AUDIT
Common Mistake Encountered in Businesses
RJA 18 Sep, 2021
COMMON MISTAKES ENCOUNTERED IN BUSINESSES GENERAL ACCOUNTING MISTAKES Accounting is usually seen by the entrepreneur as a necessary evil. Everyone knows that accounting is crucial and necessary for any business and yet the vast majority dread it. it's true that accounting still requires&...
AUDIT
Legal Compliance Audit in India
RJA 01 Oct, 2020
Legal Compliance Audit A legal compliance audit is an operation appraisal of an organization. The evaluation process is further guided by checking the company’s performance against legal standards and identifying the areas which require stringent adherence. The main areas the legal compliance audit in India cover is the ...
AUDIT
Due Diligence service in India
RJA 01 Oct, 2020
Due Diligence Due Diligence is an audit or investigation before a potential investment for the final confirmation prior to entering into an agreement. It involves reviewing the financial records and transactions with another party. The operating status, government relations, enterprise records, and the shareholder's background along with senior ...
AUDIT
Introduction of Various kind of Audit & Assurance for the Company
RJA 19 Sep, 2020
Introduction of Various kinds of Audit & Assurance for the Company 1. Internal Audits For ensuring growth, companies adopt the fresh framework which focuses on cost reduction and improving the quality of products and services. A strategically devised auditing arena plays an important role in achieving various challenges in business. The ...
AUDIT
Audit, Assurance & Corporate Law Compliance with rules & Regulations
RJA 17 Sep, 2020
Audit, Assurance & Corporate Law Compliance with rules & Regulations In the rapidly growing business world, gaining the right guidance is crucial for the business to witness a hike. Audit and Assurance ensure that an organization is in complete compliance with the rules and regulations of the accounting sector. If ...
AUDIT
Indian Government and ICAI going to issue the FAIS (Forensic Accounting and Investigation Standards)
RJA 03 Sep, 2020
ICAI going to issue the FAIS (Forensic Accounting and Investigation Standards) ICAI is proposing to come up with a package of Forensic Accounting and Inquiry Standards (FAIS), said on Tuesday by President Atul Kumar Gupta. The new standards are expected to be ready by the end of December, ...
AUDIT
how to recognize internal signs/Financial Statement fraud: Fraud Red Flags
RJA 01 May, 2020
Learn how to recognize internal signs / Financial Statement fraud: Fraud Red Flags 1. Accounting irregularities, such as increasing sales without a corresponding rise in cash flows. Sales are much harder to control than cash flow, but they can work more or less in parallel over time. 2. Consistent demand growth while existing ...
