In this edition we have tried to bring you notice the latest amendment that followed in the month of December, 2023 issued by MCA, RBI, SEBI, IBBI and others. MINISTRY OF CORPORATE AFFAIRS SECURITIES LAWS AND CAPITAL MARKET Guidelines for AIFs with Respect to Holding their Investments in Dematerialized Form and Appointment of Custodian. Investment made by an AIF shall […]
Scope of SA 260: To Deals with auditor’s responsibility to communicate with TCWG in an audit of financial statements. Who are “Those Charged with Governance” (TCWG): The Person(s) or Organization(s) with responsibilities of for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes those overseeing the financial reporting process and for […]
It is common for an entity to provide (in accordance with the contract, the law or the entity’s customary business practices) a warranty in connection with the sale of a product (whether a good or service). The nature of a warranty can vary significantly across industries and contracts. Some warranties provide a customer with assurance that the related product will […]
Introduction: In the ever-evolving landscape of personal and business finance, the role of a competent and trustworthy chartered accountant (CA) cannot be overstated. Whether you are an individual looking to manage your taxes or a business owner striving for financial success, having a skilled CA by your side can make a significant difference. The challenge, however, lies in finding the […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of December, 2023 issued by MCA, RBI, SEBI, IBBI and others. RESERVE BANK OF INDIA Rationalization of Licensing Framework for Authorized Persons (APs) under Foreign Exchange Management Act (FEMA), 1999 (December 26, 2023) It has been decided to rationalize and simplify the […]
Internal Auditors play a vital role in ensuring the integrity and reliability of financial information within an organization. One critical aspect of their responsibilities is managing and scrutinizing the audit trail, which serves as a digital breadcrumb trail documenting every transaction and activity. Following are the key responsibilities of a finance audit firm : Establishing and Monitoring Controls: Internal Auditors […]
SA 701 deals with the responsibilities of an auditor to communicate the key audit matters in his/her audit report. Introduction SA 701 is intended for addressing both the judgment of an auditor as to what is required to be communicated in his/her audit report and the content and form of such communication. The purpose of communicating key audit matters is: […]
Blackstone will sell its entire 23.9% stake valued at $833 million in India’s largest real estate investment trust Embassy Office Parks, four years after it was first listed. Blackstone will sell 223.6 million units of Embassy REITs, in one of the biggest block deals this year, at a 7.7% discount to INR 335.75 per unit price as of December 19, […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of November, 2023 issued by MCA, RBI, SEBI, IBBI and others. MCA Commerce Ministry to collaborate with e-commerce companies to promote exports from districts (November 23, 2023) In a significant move to enable micro, small and medium enterprises (MSMEs) and boost e-commerce […]
DEFINITION Audit trail is combination of two words where: Audit refers to examination of records Trail refers to series of clues that are left behind An audit trail is, essentially, proof of all the changes made to your financial data In general it is the history of a particular document since its creation PURPOSE Audit is a vast task […]