Objectives of Auditing

In simple terms, we say that auditing expresses an opinion on the financial statement. The auditor verifies the financial statements and books of accounting to check the truth and fairness of the financial position and operating results of the business. The objectives of auditing can thus be studied under two heads namely Primary and Secondary Objectives. Primary Objectives The primary Read More …

What is Management Audit

Management audit is a systematic and impartial examination, analysis and appraisal of management’s overall performance. It is basically a procedure of appraisal of management’s total performance by means of an objective and comprehensive examination of the organisation structure, its objectives, plans and policies, its operation and its use of physical and human resources, and methods of operation. Thus ‘management audit’ Read More …

DUTIES OF AN AUDITOR UNDER COMPANIES ACT, 2013

1. Duty to Make report under section 143: 143 (2): whether the accounts give a true and fair view Whether he has sought all information and explanation Whether required books have been kept Report of branch account Fairness of B.S. and P\L account Observations and comments of the auditor Whether the director is disqualified from being appointed (section 164(2) Qualification, Read More …