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 »
Secretarial Compliances for listed Company Secretarial compliances for listed company, there are specific secretarial compliances that must be adhered to in addition to the general compliance requirements. These compliances are aimed at ensuring transparency, investor protection, and adherence to the regulations governing listed entities. Here are some key secretarial compliances for a listed company:… Read More »
Secretarial Audit Vs. Compliance The difference between a secretarial audit report and a secretarial compliance report lies in their scope and purpose. Here’s a breakdown of each: Secretarial Audit Report: Scope: A secretarial audit report provides an independent evaluation of a company’s secretarial and compliance practices. It covers a comprehensive examination of statutory registers, filings,… Read More »
Consequences Website Link Consequences: Failure to comply with the e-invoicing requirements under the new Goods and Services Tax (GST) regime in India can have several consequences: Penalty: Failure to comply with the e-invoicing requirements may lead to penalties, which can range up to Rs. 10,000 or 1% of the transaction value, whichever is higher. 10,000… Read More »
Contingent Liabilities Contingent liabilities can verify by reviewing the company’s financial statements and related disclosures. Companies are required to disclose significant that liabilities in their financial statements, along with a description of the nature of the liability and the likelihood of it being realized. The notes to the financial statements may also include information about… Read More »
GST Checklist for PVT Ltd Company GST Checklist for Pvt Ltd Company, Verify if your company meets the turnover threshold for GST registration. Apply for GST registration by providing the necessary documents and information. Invoicing and Documentation: Ensure that all invoices issued by your company are GST compliant, including details such as GSTIN, invoice… Read More »
Tax Audit Tax Audit, The primary objective is to examine a taxpayer’s accounts and financial statements to ensure compliance with the provisions of the Income Tax Act, 1961, and to verify the accuracy and completeness of the tax returns. Conducted by a qualified chartered accountant, the tax audit aims to provide assurance to the tax… Read More »
The process of auditing Auditing is a process of examining the financial records, operations, and activities of an organization to provide an independent opinion on whether the financial statements provide a true and fair view of the organization’s financial position and performance. The following are the general steps involved in the auditing process: 1.Planning: The… Read More »
Corporate Audit A Corporate Audit is a comprehensive and systematic examination of a company’s financial records, Corporate Audit policies, procedures, and internal controls to evaluate their accuracy, reliability, and effectiveness. The objective of a is to provide an independent and objective opinion on the financial health of the company, identify potential areas of risk, and… Read More »
Statutory Compliance Statutory compliance refers to the process of ensuring that a company or an organization is following all the rules, regulations, and laws set by the government and relevant regulatory authorities. These laws and regulations can include tax laws, labor laws, environmental laws, and other applicable laws that govern business operations. Compliance is important… Read More »