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Category: Audit


The Institute of Chartered Accountants of India (hereinafter referred as “ICAI” or “the Institute”) constituted the “Committee for Internal Audit (CIA)” in February 2004, which in November 2005 was renamed as the “Committee on Internal Audit”. In November 2008, the Read more…


Major Changes : Taxpayer to give GSTN number along with details of other indirect Tax registrations like Sales Tax, Service Tax etc. The New form 3CD seeks for information of Gifts that are chargeable to tax as per clause (x) of Read more…


MUMBAI: Fearing a backlash from regulatory agencies around corporate governance standards many firms are dropping their auditing assignment like hot potatoes. Since January this year more than 30 firms have resigned as auditors of companies midterm, compared to about 7 Read more…


Mumbai: Price Waterhouse (PW), a network firm of PwC India has quit as auditor to BSE-listed construction and infrastructure company Atlanta Limited after it apparently refused to share details of an ongoing income tax investigation and the resignation of an independent director. The income tax department Read more…


The Council of ICAI at its 364th meeting held in March 2017 (in partial modification of decision taken by it at its 350th meeting held in February 2016), has decided that the effective date/applicability of four Standards viz. SA 700 Read more…


New Format of Auditor’s Report Under SA 700 Effective For Audit of Financial Statements For Period Beginning On Or After April 1, 2018 The Council of ICAI at its 364th meeting held in March 2017 (in partial modification of decision Read more…


Prime Minister of India Mr Narendra Modi  in an unscheduled live televised address to the nation at 20:15 Indian time (IST) on 8th October 2016 announced that circulation of all Rs.500 and Rs.1000 bank notes of Mahatma Gandhi series stands invalid and Read more…

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