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Audit Reports in SAFA Countries: Comparative Analysis of “True and Fair View” versus “True and Correct View”, Auditor Responsibility, Judicial Interpretation and Reporting Entities in South Asia
1. INTRODUCTION
“An audit report may consist of a few paragraphs, but each word is capable of
being tested in a court of law.” This statement captures the enduring tension
between brevity and consequence in audit ...
Cyber Crime : An emerging Challenge to Indian Banking Industry
Cyber Crime
: An emerging Challenge to Indian Banking IndustryIncreased
use of e-products :- On the recommendation of the
Committee on Financial System (Narasimham Committee) 1991-1998 when
founding stones of i...
How to Qualify an Audit Report: Requirements, Reasons, Impact and Comprehensive Illustrations
How to Qualify an Audit Report: Requirements, Reasons,
Impact and Comprehensive Illustrations
Introduction
An auditor’s report culminates months of planning, risk assessment, evidence
gathering and evaluation. It...
Audit Reports Around the World: A Professional Comparative Analysis of Wording, Structure, and Regulatory Nuances
Audit Reports Around the World: A
Professional Comparative Analysis of Wording, Structure, and Regulatory NuancesA practitioner’s guide for
qualified Chartered AccountantsExecutive SummaryThis article presents a comp...
Financial Sector Reforms and the Vision of Viksit Bharat 2047 ;Banking, Capital Markets, Insurance, Pensions and Fintech as Pillars of India’s Development Vision
Financial Sector Reforms and the
Vision of Viksit Bharat 2047
1. Introduction
India has entered the Amrit Kaal with an
explicit national aspiration: to transform itself into a fully developed,
resilient and inclus...
Going Concern Assumption in Auditing: Principles, COVID-19 Impacts, Triggers, and Practical Illustrations
Going Concern Assumption in Auditing: Principles, COVID-19
Impacts, Triggers, and Practical IllustrationsExecutive
Summary The going concern
assumption is the bedrock upon which financial reporting and audit assu...
CA Exonerated for Taking Up Employment as Company Secretary After Change of COP Status and Without Undertaking Any Attestation Work: ICAI Board of Discipline – K. Ramanathan vs. CA Govind M. Joshi
Facts of the CaseA complaint was filed by Shri K. Ramanathan,
Coimbatore, against CA Govind M. Joshi, Proprietor of M/s G.M.J. &
Associates, alleging that the Respondent violated the provisions of the
Chartered Ac...
Allegations of Misuse of Digital Signature, Acting as Managing Partner Without Authority and Unauthorized Audit Filings Not Proved: ICAI Board of Discipline Closes Case – Vinay Kumar Aggarwal vs. CA Nitesh Agrawal
Facts of the
CaseA complaint was filed by CA Vinay Kumar Aggarwal
against CA Nitesh Agrawal alleging professional and other misconduct in
relation to activities carried out during the Respondent’s association with t...
Running Multiple Businesses While Holding Certificate of Practice, Online Advertisement and Securing Professional Work Through Non-Members Constitute Professional Misconduct: ICAI Board of Discipline Orders Removal and Fine – Sumit Gururani vs. CA Mayur Batra
Facts of the CaseA complaint was filed by Shri Sumit Gururani, New
Delhi, against CA Mayur Batra, proprietor of M/s Mayur Batra & Co., New
Delhi. The complaint alleged that the Respondent was actively involved in
...
Allegations of Issuance of Fake Income-Tax Summons to Extract Money Not Proved for Want of Evidence: ICAI Board of Discipline Closes Case – Deputy Director of Income Tax (Inv.)-III vs. CA Desh Nidhi Gupta
Facts of the CaseA complaint was filed by the Deputy Director,
Income Tax (Investigation)-III, Jaipur, alleging that CA Desh Nidhi Gupta
created and caused issuance of fake summons purportedly under Section 131 of
the...