Audit and Assurance Evolve with Blockchain Audit and Assurance Evolve with Blockchain, Blockchain technology has the potential to significantly impact the fields of audit and assurance. Here are a few ways in which audit and assurance might evolve with the adoption of blockchain: Enhanced Transparency and Traceability: Blockchain technology provides a decentralized and immutable… Read More »
Types of Audit Assurance Audit Assurance, There are several types of audit assurance engagements, each providing a different level of assurance to stakeholders. The main types of audit assurance engagements include: Financial Statement Audit: This is the most common type of assurance engagement. It involves an independent auditor examining an organization’s financial statements and providing… Read More »
Assurance And Audit Assurance and audit are related concepts, but they have some key differences: Scope: Assurance is a broader term that encompasses various activities aimed at providing confidence to stakeholders about the reliability, accuracy, and compliance of information. It can include financial information as well as non-financial information such as internal controls, risk… Read More »
Assurance And Internal Audit Assurance and internal audit are related concepts, but they have distinct purposes and scopes: Assurances: Assurance engagements are conduct by external or internal auditors, or other independent professionals, to provide objective assessments and conclusions on the reliability, accuracy, and compliance of information or processes. The objective of assurance is to… Read More »
Audit Stages Stages: An audit typically involves several stages, which can vary depending on the size and complexity of the organization being audited. However, the following are the general of an audit: 1.Planning: In this the auditor plans the audit by gaining an understanding of the organization and its business processes, identifying key areas of… Read More »
Introduction Futures trading is an attractive option for investors looking to hedge risks or speculate on price movements. However, traders often overlook the tax implications associated with futures contracts, which can significantly impact profits and financial planning. Understanding these tax rules is essential for traders to maximize gains while ensuring compliance with… Read More »
Statutory and non-Statutory Audit Statutory audit and non-statutory audit are two types of audits that serve different purposes. A statutory audits is a legally required audit that is performed to ensure that a company’s financial statements are accurate and comply with applicable accounting standards and laws. This type of audit is typically conduct by an… Read More »
Introduction Taxation is an integral part of any economy, allowing governments to generate revenue for public welfare and infrastructure development. One such tax that businesses and service providers need to be aware of is Service Tax. This article will provide a step-by-step explanation of service, covering its definition, benefits, applications, limitations, and more. Definition… Read More »
Assessment year and Previous year Assessment Year and Previous Year are two significant terms used in the Indian Income Tax Act of 1961, and their meanings are as follows: Previous Year is a term use in the Indian Income Tax Act, 1961, which refers to the specific financial year during which the income… Read More »
The legal documents required for an audit of a company may vary depending on the specific requirements of the auditor and the type of audit being conducted. However, some common documents that are typically requested during an audit include: For more information visit this site: https://www.mca.gov.in/ 1.Financial statements as- balance sheets, profit and loss statements,… Read More »
