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What are the reasons for getting audited?
pawan
- Aug 11th, 2012
To ascertain or present the true and fair view of financial statement with regulatory legal compliance
mohamdabdelwhab
- Feb 17th, 2010
It is requested by Audit commitee or the Companys; shareholders. The main objective of modern Audit is to help the MGMT to acheive its various objectives by bringing a systimatic approaches and evaluating the risks.
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Can we deduct tds on hire purchase?
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Editorial / Best Answer
ketavarapu- Member Since Jun-2007 | Feb 3rd, 2009
Under Sec 94-I we can deduct TDS
Praveen
- Sep 12th, 2014
Vouching is the process of checking the vouchers with which we have entered the transactions in books of accounts
sudheer patibandla
- Aug 19th, 2012
Under 94 - I @ 2%
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Tax on rent
My company is given machinery on rent basis to other company . Then it is matter of vat or service tax ?
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What is the difference between an internal audit and the annual external audit?
mohamdabdelwhab
- Feb 17th, 2010
External Audit is defined as an an audit taken on financial statements to state the financial statements are represented fairly or not. While the Internal Audit is to audit the process and system and evaluate the control over the company
jite ometan
- Jun 25th, 2008
an internal audit deals with compliance testing of established policies and is carried out in house for the firm to assist in highlighting weaknesses of controls while the external audit de...
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What is the difference between Tangible Assets & Intangible Assets ?
naina goel
- Sep 13th, 2011
Tangible Assets are those assets which we can see or touch like fixed asset ,machinery,etc.
intangible Assets are those which we can't be seen like goodwill of the company.Muhammad Mansoor
- Aug 8th, 2010
Tangible assets - which is visible, like machine & apply IAS 16Intengible assets - which is invisible, like goodwill, brand name & apply IAS 38.
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How goodwill is calculated?
Muhammad Mansoor
- Aug 8th, 2010
Good will always calculated by externally...Internally calculated good will is?unaccepted according to?IFRS 3
shruti.daftardar
- Aug 24th, 2008
Goodwill is recognised based upon the total value of the partnership implied by the new partner's contribution.
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What are the different types of internal audit?
Miniii_1
- Aug 1st, 2007
There are many types of Audit such as Internal audit,Statutory audit,Management audit,Operations audit to name a few.
Miniii_1
- Aug 1st, 2007
There are many types of Audit such as Internal audit, Statutory audit, Management audit, Operations audit to name a few.
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What are all the vital attributes present in an Audit Report?
edlin
- Nov 24th, 2008
The following are the vital attributes present in an audit report:-the report must be timely in order to be relevant-it must be factual or supported by concrete evidence-it must be material and significant
isha_mit
- Jul 17th, 2007
It should be based on fact,fair and on generally accepted accounting practice. It should not be based on assumptions, if any assumptions are used it should be clearly stated in the report. The report should be written in a language which is understandable to reportee.
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Materiality and Audit Report
How can you link between materiality and audit report?
Nishi Kanti Dey
- Jan 25th, 2009
There is an direct relationship between materiality and audit report, higher the materiality of an items the higher would be the audit risk which directly impact on the auditors report, keeping in vie...
edlin
- Nov 24th, 2008
Materiality is important in the issuance of audit report because materiality is one of the basis whether an audit procedure has to be done with the certain item/s in the financial statements, therefor...
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Which is the effective way of carrying out a stock check and usage at a lodge?
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What is CARO 2003? What do you mean by Management Audit?
A B GOEL
- Jul 5th, 2012
CARO means company audit report order 2003.It describes the matter on witch Statutory Auditors has to report in their Audit Report.
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Statutory Audit
What have you done in statutory Audit?
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What is Pool rate
sureshindia1
- Oct 22nd, 2007
Dear friends,Pool Rate is the overhead costs for a Homogeneous Cost Pool divided by the appropriate Cost Driver associated with the pool.Homogeneous Cost Pool is a group of overhead costs associated w...
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What is meant by Single Audit process?
monac
- Oct 21st, 2009
The Single Audit's objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, and non-profit organizations.
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What is Web Audit?
jite ometan
- Jun 25th, 2008
The aim of a web audit is to analyse an existing web presence in order to facilitate performance improvement creating better online technical, structural and business delivery
Audit Interview Questions
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