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Rotation of auditor
Auditing
answered on 02-Oct-20 15:52
For example : PWC , Deloitte ,EY,KPMG are work under same brand . EY - appointed S&co firm as an auditor Deloitte -appoited B&co firm as an auditor Here s&co AND b&co are related firms So In this case can they appointed in this way or not??
latest answer
Yes.
Sirikonda Swathika
CA Final
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Rotation of auditor
Auditing
answered on 02-Oct-20 10:07
In case of other than govt co appointment of first auditor is done by BOD within 30 days from date of registration. But in case of failure members will appoint within 90 days . So counting of 90 days is either from date of registration OR from failure of BOD
latest answer
Registration
Sirikonda Swathika
CA Final
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401
Company audit Ratification of auditors
Auditing
answered on 02-Oct-20 17:07
Ratification of auditors at every AGM. Is it required as per latest amendment of companies Act?
latest answer
No.
Rathi Vigneshwari
CA Final
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433
Regarding videos
Auditing
answered on 01-Oct-20 12:35
In individual module audit of financial statements duration is 7 hrs only , does all aspects are covered or else only briefing is given
latest answer
Covers all.
Sai E
CA Foundation
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417
Examination in depth vs test of controls
Auditing
answered on 27-Sep-20 12:32
I m confused as what's the difference between Examination in depth and test of controls
latest answer
Examination in depth is also known as WALKTHROUGH.....means checking the authority and process of a transaction from beginning to end. Example: from the point of raw material requirement, purchase requisition, vendor selection,quotations,placing orders,checking quality of raw material,Issuing GRN,raising Bill's payable and finally payment. TEST OF CONTROLS means type of audit procedures that an auditor performs to check ROMM at assertion level to obtain evidence to choose the amount of substantive procedure to be performed throughout the audit.
Rakesh Prabhu
CA Final
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Meaning
Auditing
answered on 26-Sep-20 11:17
What is the difference between vouching and verification ( logic) ?
latest answer
Thank you sir
Swathi Krishna
CA Final
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475
Updation
Auditing
answered on 26-Sep-20 15:01
Is it SA 530 OR 520 ? Bcoz when I checked in SA 530 there was no video with (*) Mark. Can u please check and tell whether it is 530 or 520 or both ?
latest answer
K
Swathi Krishna
CA Final
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471
Company audit
Auditing
answered on 02-Oct-20 07:16
In disqualification A person whose relative is a director or is in the employment of the company as a director In this sentence EMPLOYMENT OF THE COMPANY AS A DIRECTOR means what???
latest answer
Director can just be on the board. He need not be employed by the company in any other post.
Kanaga Mani
CA Inter
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490
Company audit
Auditing
answered on 24-Sep-20 06:09
In disqualification of audit In 4th point (person himself or the partner has business relationship with any company in the group) Then exception is (professional service or arms length transactions) In 9 th point (any person is providing consulting and specialized services mentioned u/s 144 of companies act 2013 ) this all disqualification One point saying not disqualified another point saying disqualification what is the clear difference?
latest answer
Professional services other than those mentioned in 144 can be provided at arms length. For e.g. book keeping services cannot be provided even at arms length.
Kanaga Mani
CA Inter
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409
Modified opinion
Auditing
answered on 13-Oct-20 13:48
Misstatement Pervasive to financial statements means?
latest answer
adverse opinion not qualified
Rathi Vigneshwari
CA Final
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434
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