Audit

Auditing and Assurance Standards

In the simplest terms, auditing standards represent a codification of the best practices in the field of auditing. Auditing Standards are therefore, the performance benchmarks for the auditor. Auditing Standards for the professionals on how they should carry out their professional engagement, enshrined as the basic principles and essential procedures to apply those basic principles…

CARO 2015 Vs CARO 2013 | Comparison

The CARO, 2015 replaces the 12 year old CARO, 2003. Here is a brief comparison of the New CARO 2015 with the old one. Clause No. CARO 2003 Clause No. CARO 2015 Remarks 1. It shall apply to every company including a foreign company as defined in section 591 of the Act, except the following…

Bank Audit – Major Points to be Considered

Break Even Date for NPA is 01.01.2013 for the year 2012-2013 Auditor Report should be in New Format (Download New Audit Report Format). Banks may not sent new format in their Guidelines for the year 2012-13. Once an account has been classified as NPA, all the facilities granted to the borrower will be treated as…

Bank Audit Report New Format–Illustrative

The New Auditor’s Report Format for Bank Audits as Given is SA700 Forming an Opinion and Reporting on Financial Statements has been given for preview and Download. You can Download the File at the End of the article. An Illustrative Format of Report of the Auditor of a Nationalised Bank To The Statutory Central Auditors…

New Auditor’s Report Format as Per SA700 Revised

The New Auditor’s Report Format as Given is SA700 Forming an Opinion and Reporting on Financial Statements has been given for preview and Download. You can Download the File at the End of the article. Sample Preview Independent Auditor’s Report To the Members of ABC Company Limited. We have audited the accompanying financial statements of…