#Audit

I get asked this question regularly by articleship students and even by some clients who confuse the two. Internal audit and statutory audit serve fundamentally different purposes, even though both involve examining financial records. PURPOSE Statutory audit: Express an opinion on whether financial... Show more

Getting appointed as a bank branch statutory auditor for the first time is both exciting and daunting. The volume of work, the RBI guidelines, and the tight timelines can overwhelm you. Here is what I wish someone had told me before my first bank audit. UNDERSTANDING THE APPOINTMENT RBI empanels ch... Show more

Cost audit is one of the most misunderstood compliance requirements under the Companies Act 2013. Many companies that need it do not know they need it. And many that do it treat it as a checkbox exercise. Both approaches are wrong. WHO NEEDS COST AUDIT? Companies engaged in production of goods or p... Show more