source_file stringclasses 61
values | subject stringclasses 3
values | doc_type stringclasses 3
values | attempt_period stringclasses 10
values | text stringlengths 58 34.1k | embeddings listlengths 1.02k 1.02k |
|---|---|---|---|---|---|
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SOLUTION
In the present case there is a need to add Emphasis on Matter Paragraph in the Auditor's Report. The draft of the same is as under:
Emphasis of Matter - Effects of Fire in Company's Factory
We draw attention to Note Y of the financial statements, which describes the effects of a fire in... | [
-0.011128844693303108,
-0.01784595660865307,
0.022197144106030464,
0.026027550920844078,
-0.02163773961365223,
0.005050987005233765,
0.005291664972901344,
-0.05489381030201912,
-0.016987057402729988,
0.040149182081222534,
0.027945909649133682,
0.027900386601686478,
0.01807115226984024,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 6.4 Other Matter Paragraphs in the Auditor's Report
If the auditor considers it necessary to communicate a matter other than those that are presented or disclosed in the financial statements that, in the auditor's judgement, is relevant to users' understanding of the audit, the au... | [
0.004035331308841705,
-0.028453310951590538,
-0.007231650874018669,
0.05306687951087952,
-0.02277550846338272,
-0.007479420863091946,
0.0078058079816401005,
-0.02941892482340336,
-0.009634631685912609,
0.07946716994047165,
0.03263847902417183,
0.041509002447128296,
-0.001176883582957089,
-... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 6.5 Communication with Those Charged with Governance
If the auditor expects to include an Emphasis of Matter or an Other Matter paragraph in the auditor's report, the auditor shall communicate with those charged with governance regarding this expectation and the wor... | [
-0.013864483684301376,
-0.018902385607361794,
-0.006667013745754957,
0.023903897032141685,
-0.017630940303206444,
0.0038401649799197912,
0.005684475414454937,
-0.028347089886665344,
-0.016833340749144554,
0.03647087141871452,
0.0095026521012187,
0.01563616469502449,
-0.0085000554099679,
0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 7. COMMUNICATING KEY AUDIT MATTERS IN THE INDEPENDENT AUDITOR'S REPORT (SA 701)
SA 701 deals with the auditor's responsibility to communicate key audit matters in the auditor's report. It is intended to address both the auditor's judgement as to what to communicate in the auditor's report and the ... | [
0.016813967376947403,
-0.01707264594733715,
-0.034228794276714325,
0.031023897230625153,
-0.021776020526885986,
-0.00941374246031046,
-0.003151438431814313,
-0.022801944985985756,
-0.010533394291996956,
0.09460809081792831,
0.031605228781700134,
0.04681353643536568,
0.0005886373692192137,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 7.1 Purpose of Communicating Key Audit Matters
As per SA 701, 'Communicating Key Audit Matters in the Auditor's Report', the purpose of communicating key audit matters is to enhance the communicative value of the auditor's report by providing greater transparency about the audit that wa... | [
0.005282820668071508,
-0.0020053719636052847,
-0.014887312427163124,
0.051583610475063324,
-0.021763408556580544,
-0.03029020130634308,
0.0030539787840098143,
-0.017737440764904022,
-0.036548446863889694,
0.0667656883597374,
-0.0012427563779056072,
0.035068757832050323,
0.007796584628522396,... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 7.2 Objectives of the Auditor regarding Key Audit Matters
As per SA 701, 'Communicating Key Audit Matters in The Independent Auditor's Report', the objectives of the auditor are to determine key audit matters and, having formed an opinion on the financial statements, communicate those matt... | [
-0.0023063276894390583,
-0.011486575938761234,
-0.017899520695209503,
-0.014898188412189484,
-0.03272494301199913,
-0.001188976806588471,
-0.025548959150910378,
-0.024546943604946136,
-0.010843382216989994,
0.06900405883789062,
0.042492564767599106,
0.05132982134819031,
-0.02043534256517887,... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
performing the audit. In making this determination, the auditor shall take into account the following:
Areas of higher assessed risk of material misstatement, or significant risks identified in accordance with SA 315.
Significant auditor judgements relating to areas in th... | [
-0.0051475889049470425,
-0.00878216978162527,
-0.035682108253240585,
0.0033332998864352703,
-0.030475635081529617,
0.01564856991171837,
-0.01416661124676466,
-0.02714339829981327,
-0.014254534617066383,
0.07721622288227081,
0.051821328699588776,
0.009522928856313229,
-0.0003339701215736568,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 7.4 Communicating Key Audit Matters
The auditor shall describe each key audit matter, using an appropriate subheading, in a separate section of the auditor's report under the heading 'Key Audit Matters'. The introductory language in this section of the auditor's report shall state that:
- (a) Ke... | [
0.016757037490606308,
-0.024020260199904442,
-0.035554058849811554,
0.01211460493505001,
-0.02663554809987545,
-0.012352163903415203,
0.010846625082194805,
-0.03319423273205757,
-0.016793102025985718,
0.0770934447646141,
0.008716321550309658,
0.06196029856801033,
0.0019695074297487736,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 7.5 Communicating Key Audit Matters- not a substitute for disclosure in the Financial Statements etc.
Communicating key audit matters in the auditor's report is in the context of the auditor having formed an opinion on the fi nancial statements as a whole. Communicating key audit m... | [
-0.00047352167894132435,
-0.02358980104327202,
-0.018488233909010887,
0.035994477570056915,
-0.03531210124492645,
-0.041414711624383926,
0.004739774391055107,
-0.00484086200594902,
-0.03729991614818573,
0.07750366628170013,
0.038108255714178085,
0.033422134816646576,
0.02079969458281994,
-... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 7.6 Communication with Those Charged with Governance
The auditor shall communicate with those charged with governance:
- (a) Those matters the auditor has determined to be the key audit matters; or
- (b) If applicable, depending on the facts and circumstances of the entity and the audit, the a... | [
-0.00545329786837101,
-0.018800631165504456,
-0.017674991860985756,
0.01875242590904236,
-0.015758346766233444,
-0.007232567761093378,
-0.015281775034964085,
-0.007943679578602314,
-0.03215376287698746,
0.05178774148225784,
0.0051673948764801025,
0.029140746220946312,
0.00551398703828454,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Key Audit Matters
[Except for the matter described in the Basis for Qualified (Adverse) Opinion section or Material Uncertainty Related to Going Concern section,] We have determined that there are no [other] key audit matters to communicate in our report. | [
0.017177125439047813,
0.007231767755001783,
-0.012246277183294296,
0.011211831122636795,
-0.008193917572498322,
-0.03340597823262215,
0.03128252550959587,
0.0060965619049966335,
-0.020162587985396385,
0.0735965445637703,
0.042310819029808044,
0.012761833146214485,
0.01647348329424858,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SA 701 AT A GLANCE
<!-- image -->
| APPLICABILITY OF SA 701 ... | [
0.02567083016037941,
-0.026558998972177505,
0.021707748994231224,
0.06415022909641266,
-0.041721440851688385,
-0.022995896637439728,
-0.01524717453867197,
-0.03052382357418537,
-0.039494626224040985,
0.09972277283668518,
0.04181914031505585,
0.025498811155557632,
0.02291111648082733,
0.022... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
| COMMUNICATING AUDIT MATTERS: | KEY | The introductory language in this section of the auditor's report shall state that: (a) Key audit matters are those matters that, in the auditor's professional judgment, were of most significance in the audit of the financial statements [of t... | [
0.009298166260123253,
-0.027447588741779327,
-0.013677586801350117,
0.032259028404951096,
-0.04257553070783615,
-0.011482389643788338,
-0.005930176004767418,
-0.028508512303233147,
-0.03909801319241524,
0.08556921035051346,
0.01642957143485546,
0.03794354200363159,
0.027632150799036026,
-0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS- A BIRD'S EYE VIEW
The following table gives a summary of the Standards on Auditing related to audit reporting:
| Standard Auditing | Name of SA | Matters dealt with (Scope) ... | [
0.000075905307312496,
-0.038979023694992065,
0.004025688860565424,
-0.00022680655820295215,
-0.03920856490731239,
-0.0008554978994652629,
0.013534174300730228,
-0.00478530814871192,
-0.021564986556768417,
0.0865032896399498,
0.03240632638335228,
0.04582279175519943,
0.02912834845483303,
-0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## STANDARD ON AUDITING -710, 'COMPARATIVE INFORMATION -CORRESPONDING FIGURES AND COMPARATIVE FINANCIAL STATEMENTS'
This Standard on Auditing (SA) deals with the auditor's responsibilities regarding comparative information in an audit of financial statements. When the financial statements of th... | [
-0.0047951266169548035,
-0.02892930805683136,
0.006211691070348024,
0.01640177331864834,
-0.02059597708284855,
-0.01578982174396515,
-0.000289769668597728,
-0.010677275247871876,
-0.02573828212916851,
0.08645351976156235,
0.015900593250989914,
0.033897463232278824,
0.007560620550066233,
-0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 8.1 The Nature of the Comparative Information
The nature of the comparative information that is presented in an entity's financial statements depends on the requirements of the applicable financial reporting framework. There are two different broad approaches to the auditor's reporting re... | [
-0.03980488330125809,
-0.02770393341779709,
0.005171488970518112,
-0.001663624425418675,
-0.012577378191053867,
0.02076243795454502,
0.0113412756472826,
-0.030726702883839607,
-0.030762217938899994,
0.05167394503951073,
-0.00632655480876565,
0.050762105733156204,
-0.015667807310819626,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Objectives
As per SA 710, the objectives of the auditor are:
- (a) To obtain sufficient appropriate audit evidence about whether the comparative information included in the financial statements has been presented, in all material respects, in accordance with the requirements for comparati... | [
0.009993934072554111,
-0.013687999919056892,
-0.009818839840590954,
-0.023364102467894554,
-0.005911464802920818,
-0.008492176420986652,
-0.04415486007928848,
-0.02639499306678772,
-0.022149285301566124,
0.03916270658373833,
0.028286581858992577,
0.018841922283172607,
-0.010284559801220894,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 8.2 Audit Procedures regarding comparative information
- ♦ The auditor shall determine whether the financial statements include the comparative information required by the applicable financial reporting framework and whether such information is appropriately classified. For this p... | [
-0.029219651594758034,
-0.02959779091179371,
0.011900597251951694,
0.0017882457468658686,
0.00003807562461588532,
0.0037655672058463097,
-0.03362566977739334,
-0.02407333254814148,
-0.026890762150287628,
0.05416451394557953,
-0.002443336881697178,
0.03232228755950928,
-0.0009505474008619785,... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- (a) The comparative information agrees with the amounts and other disclosures presented in the prior period; and
- (b) The accounting policies reflected in the comparative information are consistent with those applied in the current period or, if there have been changes in ... | [
-0.014053406193852425,
-0.03012627735733986,
0.003733408637344837,
0.007419413886964321,
0.006740371230989695,
0.010974342934787273,
-0.010521702468395233,
-0.033336881548166275,
-0.003931232262402773,
0.08862237632274628,
0.03833853453397751,
0.01038339827209711,
0.015601345337927341,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Definition of Corresponding figures :
<!-- image -->
When corresponding figures are presented, the auditor's opinion shall not refer to the corresponding figures except in the following circumstances:
1. If the auditor's report on the prior period, as previously issued, included a qualified opin... | [
-0.02397281676530838,
-0.017603304237127304,
-0.012741903774440289,
0.0034567841794341803,
-0.01974976435303688,
-0.0018750325543805957,
0.014613840728998184,
0.0059014251455664635,
-0.036819376051425934,
0.07677225768566132,
0.03552699834108353,
0.026627808809280396,
0.00023213763779494911,... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
predecessor auditor's report on the corresponding figures and decides to do so, the auditor shall state in an Other Matter paragraph in the auditor's report:
- (a) That the financial statements of the prior period were audited by the predecessor auditor;
- (b) The type of opinion exp... | [
0.0014892702456563711,
-0.04434841498732567,
0.014670496806502342,
0.0011370832799002528,
-0.015443645417690277,
0.029156969860196114,
0.0010725785978138447,
-0.030956320464611053,
0.016903605312108994,
0.04979701712727547,
0.007780789397656918,
0.039547815918922424,
-0.007866304367780685,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 8.4 Comparative Financial Statements
Definition: Comparative information where amounts and other disclosures for the prior period are included for comparison with the fi nancial statements of the current period but, if audited, are referred to in the auditor 's opinion. The level of information ... | [
-0.007184991613030434,
-0.03342962637543678,
-0.003318660194054246,
0.009982467629015446,
0.02018555998802185,
0.014007944613695145,
-0.002362011233344674,
-0.02307301014661789,
-0.01944226585328579,
0.05258883535861969,
0.025661766529083252,
0.03567936643958092,
0.009627565741539001,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Prior Period Financial Statements Audited by a Predecessor Auditor
If the financial statements of the prior period were audited by a predecessor auditor, in addition to expressing an opinion on the current period's financial statements, the auditor shall state in an Other Ma... | [
-0.00785578042268753,
-0.045616500079631805,
-0.0002204630000051111,
0.010994813404977322,
0.004846998956054449,
0.026631755754351616,
-0.047597963362932205,
-0.036395113915205,
0.006115475203841925,
0.0627882331609726,
0.024130042642354965,
0.01667289435863495,
0.011646565981209278,
-0.02... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Prior Period Financial Statements Not Audited
If the prior period financial statements were not audited, the auditor shall state in an Other Matter paragraph that the comparative financial statements are unaudited. Such a statement does not, however, relieve the auditor of the require... | [
-0.047421205788850784,
-0.0248668622225523,
-0.007769279647618532,
0.02781924046576023,
-0.002133191330358386,
0.020340677350759506,
-0.023470863699913025,
0.00639441329985857,
-0.03572498634457588,
0.07738514244556427,
0.01558280736207962,
0.042715199291706085,
0.030812758952379227,
-0.03... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 9. AUDIT OF BRANCH OFFICE ACCOUNTS
As per section 128(1) of the Companies Act, 2013, every company shall prepare and keep at its registered office books of account and other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of t... | [
-0.0063660405576229095,
-0.005408987868577242,
0.03058326244354248,
-0.02822289429605007,
0.006410972680896521,
-0.0157802551984787,
0.032137028872966766,
-0.02768865041434765,
-0.006622195243835449,
0.07632998377084732,
-0.005295173730701208,
0.045904818922281265,
0.03759126737713814,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
section (1), if proper books of account relating to the transactions effected at the branch office are kept at that office and proper summarised returns periodically are sent by the branch office to the company at its registered office or the other place referred in (1).
Further, sub... | [
-0.00796161126345396,
-0.04070918634533882,
-0.02030351758003235,
-0.027230581268668175,
0.0029097136575728655,
-0.02909998968243599,
0.024878408759832382,
-0.023888535797595978,
0.00566365709528327,
0.07450831681489944,
0.022106776013970375,
0.03316423296928406,
0.008046416565775871,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Test Your Understanding 4
CA. Dicky Yadav is auditor of a company having four branches. The four branches are audited by another auditor CA. Yamini Jain. The reports in respect of accounts of branches examined by her have already been sent to company auditor. During the course of audit, CA D... | [
0.023219238966703415,
-0.034467682242393494,
0.007405983284115791,
0.000846171984449029,
-0.022330965846776962,
-0.00683162035420537,
0.007956149987876415,
0.02039431780576706,
-0.012947998940944672,
0.09336866438388824,
0.021985948085784912,
0.016802148893475533,
0.05492914095520973,
0.00... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 10. JOINT AUDIT
The practice of appointing Chartered Accountants as joint auditors is quite widespread in big companies and corporations. Joint audit basically implies pooling together the resources and expertise of more than one firm of auditors to render an expert job in a given time ... | [
0.019186636433005333,
-0.0037886854261159897,
-0.024439750239253044,
-0.025694848969578743,
-0.022591758519411087,
-0.032229550182819366,
0.012271267361938953,
-0.006521148607134819,
-0.018207095563411713,
0.0653410479426384,
0.00235300837084651,
0.044359803199768066,
0.03047800436615944,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- (e) ascertain the nature, timing and extent of resources necessary to accomplish the engagement.
- (iv) each of the joint auditors should consider and assess the risks of material misstatement and communicate to other joint auditors.
- (v) the joint auditors should discuss... | [
-0.011404288932681084,
-0.0013088652631267905,
-0.03703287988901138,
0.020451070740818977,
-0.0452202670276165,
-0.030700527131557465,
0.012593656778335571,
-0.01115737110376358,
-0.009080055169761181,
0.07564181089401245,
-0.015169350430369377,
0.058648303151130676,
-0.012007194571197033,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## (1) Reporting requirement relating to matters stated in section 143(1)
Under section 143(1), auditor shall inquire into following matters given as under: -
- (a) whether loans and advances made by the company on the basis of security have been properly secured and whether the terms on ... | [
0.0015996769070625305,
-0.016072319820523262,
0.006397887133061886,
-0.0016620245296508074,
-0.0038663363084197044,
0.0015373547794297338,
0.005605488549917936,
-0.009444736875593662,
0.0026249904185533524,
0.04191429167985916,
0.011831492185592651,
0.03333267197012901,
0.02879953198134899,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- (f) where it is stated in the books and documents of the company that any shares have been allotted for cash, whether cash has actually been received in respect of such allotment, and if no cash has actually been so received, whether the position as stated in the account b... | [
-0.006087684538215399,
-0.00905159953981638,
0.001149149495176971,
-0.0031915446743369102,
-0.021644482389092445,
-0.02430979534983635,
0.03827061876654625,
0.001107263145968318,
-0.01304393820464611,
0.06270240247249603,
0.015849191695451736,
0.05977177992463112,
0.011424892581999302,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## (2) Reporting on accounts examined
Under provisions of Section 143(2), the auditor shall make a report to the members of the company on the accounts examined by him and on every financial statements which are required by or under this Act to be laid before the company in general meeting and the re... | [
-0.01828938163816929,
-0.025116564705967903,
-0.015658259391784668,
-0.031149134039878845,
-0.010282369330525398,
-0.006099994294345379,
0.0077818455174565315,
0.00007475057645933703,
0.0257891658693552,
0.054560303688049316,
0.0009863165905699134,
0.04833187535405159,
0.015712175518274307,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Further, in terms of section 143(3), the auditor's report shall also state
- (a) whether he has sought and obtained all the information and explanations which to the best of his knowledge and belief were necessary for the purpose of his audit and if not, the details thereof and the effec... | [
0.015467760153114796,
-0.03167317807674408,
-0.004342842847108841,
-0.00477286521345377,
-0.01293802447617054,
0.006299666129052639,
0.019484762102365494,
-0.005511934403330088,
-0.006163438316434622,
0.053976770490407944,
0.016053754836320877,
0.044531580060720444,
0.028923213481903076,
-... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
of those books and proper returns adequate for the purposes of his audit have been received from branches not visited by him;
- (c) whether the report on the accounts of any branch office of the company audited under sub-section (8) by a person other than the company'... | [
-0.00468762731179595,
-0.03647458553314209,
0.0208931565284729,
-0.003967422526329756,
-0.03725473955273628,
-0.02262038178741932,
0.015734754502773285,
-0.008441774174571037,
-0.03067309595644474,
0.07517071813344955,
0.02273201011121273,
0.04397287219762802,
0.02821023389697075,
-0.02671... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- (a) whether the company has disclosed the impact, if any, of pending litigations on its financial position in its financial statement;
- (b) whether the company has made provision, as required under any law or accounting standards, for material foreseeable losses, if any, on... | [
0.016587235033512115,
-0.007098477799445391,
-0.006895070895552635,
0.017493687570095062,
-0.01775260642170906,
-0.02551465854048729,
0.02714833989739418,
-0.016583189368247986,
0.005299183540046215,
0.06147877499461174,
0.022313924506306648,
0.044730473309755325,
0.04214921593666077,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
- (iii) Based on such audit procedures that the auditor has considered reasonable and appropriate in the circumstances, nothing has come to their notice that has caused them to believe that the representations under subclause (1) and (2) contain any material mis... | [
-0.008098689839243889,
-0.03538788855075836,
-0.013983364216983318,
0.007082770112901926,
-0.007539805956184864,
-0.013434240594506264,
-0.001318695372901857,
-0.013066800311207771,
0.00032223889138549566,
0.08198857307434082,
0.001750732073560357,
0.049145180732011795,
0.030037032440304756,... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## (4) Reporting on frauds:
- A. Reporting to the Central GovernmentAs per section 143(12) of the Companies Act, 2013 read with Rule 13 of the Companies (Audit and Auditors) Rules, 2014, if an auditor of a company in the course of the performance of his duties as auditor, has reason to be... | [
-0.020717395469546318,
-0.018732422962784767,
-0.015236793085932732,
-0.010776007547974586,
-0.015681687742471695,
-0.03532777354121208,
0.03886989504098892,
-0.020935973152518272,
0.013500294648110867,
0.07366421073675156,
0.008347704075276852,
0.02044227160513401,
0.0009507600334472954,
... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 12. REPORTING UNDER COMPANIES AUDITOR'S REPORT ORDER, 2020 [CARO, 2020]
In exercise of the powers conferred by sub-section (11) of section 143 of the Companies Act, 2013 (18 of 2013 ) and in supersession of the Companies (Auditor's Report) Order, 2016, published in the Gaze... | [
-0.033028192818164825,
-0.03282776474952698,
-0.0037010759115219116,
-0.003500316059216857,
-0.040342774242162704,
-0.02171817049384117,
0.01959901675581932,
-0.0007882724748924375,
0.013518347404897213,
0.0599161796271801,
0.04285084456205368,
0.031680088490247726,
0.02071317657828331,
-0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Example
'Educating Child' is a limited company registered under section 8 of the Companies Act, 2013.
In the given case, 'Educating Child' is licensed to operate under section 8 of the Companies Act, 2013. Therefore, CARO, 2020 shall not be applicable to 'Educating Child' accordingl... | [
-0.01574934646487236,
0.0004653354117181152,
-0.01187094859778881,
-0.011026062071323395,
-0.013666057959198952,
-0.012012988328933716,
0.001680790213868022,
-0.011125858873128891,
0.002478758106008172,
0.06482188403606415,
0.0307850930839777,
0.04799320176243782,
0.03771030530333519,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Paragraph 3
Matters to be included in auditor's report. The auditor's report on the accounts of a company to which this Order applies shall include a statement on the following matters, namely:-
- (i) (a) (A) whether the company is maintaining proper records showing full particulars, including qu... | [
-0.011940197087824345,
-0.019659947603940964,
0.011334597133100033,
0.010680182836949825,
-0.03093460574746132,
-0.004285331815481186,
0.03777607902884483,
-0.017622752115130424,
0.010911387391388416,
0.0482361800968647,
0.016877567395567894,
0.038499508053064346,
0.013671718537807465,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
| Description of property | Gross carrying value | Held in name of | Whether promoter, director or their relative or employee | Period held -indicate range, where appropriate | Reason for not being held in name of company* |
|---------------------------|------------... | [
-0.006284043192863464,
-0.03048858232796192,
0.017194394022226334,
0.024042585864663124,
-0.038975708186626434,
-0.03719359636306763,
0.002729774219915271,
-0.01100936159491539,
-0.019764376804232597,
0.044984184205532074,
0.036698512732982635,
0.02937009185552597,
0.03823600709438324,
0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties, if so,-
- (a) whether during the year the company has provided loans or provided advances in the nature of loans, or stood guarantee, or provided security to any other entity... | [
-0.007708690594881773,
-0.015240446664392948,
0.006066220812499523,
0.010277590714395046,
-0.03605857864022255,
-0.028064265847206116,
0.02889314480125904,
-0.013359354808926582,
0.0015277606435120106,
0.07391002774238586,
0.03954455256462097,
0.012142750434577465,
0.04065250605344772,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- (viii) whether any transactions not recorded in the books of account have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961), if so, whether the previously unrecorded income has been properly recorded in t... | [
-0.003535758936777711,
-0.014998512342572212,
-0.007889045402407646,
0.002970372326672077,
-0.030652085319161415,
-0.03158672899007797,
0.026268191635608673,
-0.017331426963210106,
0.004341326653957367,
0.07314518839120865,
0.029128752648830414,
0.025339731946587563,
0.03883424773812294,
-... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- details have been disclosed in the financial statements, etc., as required by the applicable accounting standards;
- (xiv) (a) whether the company has an internal audit system commensurate with the size and nature of its business;
- (b) whether the reports of the Internal Auditors... | [
0.010578295215964317,
-0.029262548312544823,
0.012677167542278767,
-0.002922927727922797,
-0.03028804250061512,
-0.023745479062199593,
0.01843499019742012,
-0.02302408404648304,
-0.015783490613102913,
0.07265274226665497,
0.01827029138803482,
0.03689080849289894,
0.034133657813072205,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Paragraph 4. Reasons to be stated for unfavourable or qualified answers. -
- (1) Where, in the auditor's report, the answer to any of the questions referred to in paragraph 3 is unfavourable or qualified, the auditor's report shall also state the basis for such unfavourable or qualified... | [
0.013021743856370449,
-0.031703490763902664,
-0.0010455568553879857,
0.028599729761481285,
0.005051127169281244,
-0.00776767497882247,
0.014832443557679653,
0.010377343744039536,
-0.03072439692914486,
0.04785997048020363,
0.03522929921746254,
0.030987288802862167,
0.03287941962480545,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Test Your Understanding 5
CA. Ravi Patnaik is conducting audit of a company for which reporting requirements under CARO, 2020 are applicable. He finds that cash credit facilities amounting to ` 4 crores were released to the company by branch of a bank for meeting its working capital ... | [
0.006111716385930777,
0.020401807501912117,
-0.008077646605670452,
0.012983803637325764,
-0.025055620819330215,
-0.014447439461946487,
0.01830507442355156,
-0.02573167160153389,
0.01635081134736538,
0.051437217742204666,
0.02590760961174965,
0.03402619808912277,
0.02593098022043705,
-0.025... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Example
The company has dispensed with the practice of taking inventory of their inventories at the year-end as in their opinion the exercise is redundant, time consuming and intrusion to normal functioning of the operations. Explain reporting requirement under CARO, 2020. | [
-0.016135847195982933,
0.004200217314064503,
-0.008998576551675797,
0.020798590034246445,
-0.05096520856022835,
-0.010884331539273262,
-0.010659096762537956,
0.0023315807338804007,
0.03398159518837929,
0.1018468588590622,
0.042760759592056274,
0.01949034072458744,
0.006161828991025686,
-0.... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Reporting for Physical Verification of Inventory:
Clause (ii) of Para 3 of CARO, 2020, requires the auditor to report (a) whether physical verification of inventory has been conducted at reasonable intervals by the management and whether, in the opinion of the auditor, the coverage and procedure ... | [
-0.004396906588226557,
0.01145627535879612,
0.00633958401158452,
0.02583840675652027,
0.0009153067949227989,
-0.01785232126712799,
0.024849237874150276,
-0.021101800724864006,
0.013143563643097878,
0.06932594627141953,
0.02881135791540146,
0.009324298240244389,
-0.0008351757423952222,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## CASE STUDY
M/s AB & Company is a firm of Chartered Accountants based in Mumbai. Mr. A and Mr. B are the Partners of the Firm. The Firm is engaged in various assignments including Audits. The partners are taking a summary of their work in order to prepare themselves ... | [
0.043013107031583786,
0.027597762644290924,
0.008619495667517185,
0.0018914053216576576,
-0.03688940405845642,
-0.030045172199606895,
-0.004955838900059462,
-0.016866032034158707,
-0.009872053749859333,
0.07529696077108383,
0.020709937438368797,
0.017368074506521225,
0.04056095331907272,
-... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Based on above, answer following questions:
1. In case of M/s Persistent & Company, what would be an ideal Audit Opinion?
2. ( a) Unmodified
3. ( b) Qualified
4. ( c) Mention the fact in Emphasis of Matter Paragraph
5. ( d) Disclaimer
2. In case of M/s Dubious Brothers, what Audit Opinion shou... | [
0.05297408625483513,
0.0016382739413529634,
0.005092190578579903,
-0.012243005447089672,
-0.030580788850784302,
-0.02337179332971573,
0.005297625437378883,
-0.01678781397640705,
-0.01762978360056877,
0.09029758721590042,
0.01936964876949787,
0.0327373743057251,
0.03702028468251228,
-0.0082... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDIT REPORT
- ( c) Mention the fact of change in method in Emphasis of Matter Paragraph
- ( d) Issue Disclaimer of Opinion
4. When the Auditor, after conclusion of an Audit exercise, is of the opinion that there are material misstatements in the Financial Statements, but they are not pervasive, t... | [
-0.011294275522232056,
-0.03328763693571091,
-0.006949794478714466,
-0.0066481162793934345,
-0.03644051402807236,
-0.005164856091141701,
0.007693358696997166,
-0.04405330866575241,
-0.010172270238399506,
0.07996520400047302,
0.03780600056052208,
0.051515113562345505,
0.02877962589263916,
-... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SUMMARY
- ♦ Management is responsible for the preparation of the fi nancial statements. The purpose of an audit is to enhance the degree of confidence of intended users of the financial statements. The aforesaid purpose is achieved by the expression of an independent reporting by the audi... | [
-0.0008099113474600017,
-0.022694282233715057,
0.006412084214389324,
-0.008431612513959408,
-0.005987852346152067,
-0.012315405532717705,
0.0006672568852081895,
0.001454586861655116,
-0.030357064679265022,
0.051910318434238434,
0.032229404896497726,
0.04301519691944122,
-0.018075311556458473... |
Inter_P5_Audit_Mod2_Chapter_8_Audit_Report.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
- ♦ The auditor shall modify the opinion in the auditor's report when the auditor concludes that, based on the audit evidence obtained, the fi nancial statements as a whole are not free from material misstatement; or the auditor is unable to obtain sufficient appropriate audit ... | [
-0.0066479165107011795,
-0.030804868787527084,
-0.032489318400621414,
-0.0156906396150589,
-0.03090597689151764,
0.005765517242252827,
0.00972921121865511,
-0.021891258656978607,
-0.03226204961538315,
0.08682084083557129,
0.030302420258522034,
0.024385889992117882,
0.026943352073431015,
-0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## After studying this chapter, you would be able to:
- ♦ Understand about Government audit, duties of the Comptroller and Auditor General of India
- ♦ Understand the procedures to be adopted for auditing of Not-for-profit Organizations (NGOs), Charitable Institutions.
- ♦ Gain knowledge of a... | [
0.016115302219986916,
-0.01889069378376007,
-0.00688767246901989,
-0.009747941046953201,
-0.027179628610610962,
-0.033309683203697205,
-0.012583688832819462,
0.0002534067607484758,
-0.007003596983850002,
0.09847892075777054,
0.02416231483221054,
0.028193969279527664,
0.05527068302035332,
-... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
Scrambling for his television remote one day, Sameer accidentally pushed button of 'Sansad TV'. Although not fond of keenly watching Parliamentary debates, his attention was drawn to pandemonium being caused in one Houses of Parliament over a report of the Comptroller... | [
0.009400798939168453,
-0.04246192425489426,
-0.021108515560626984,
0.048855971544981,
-0.016137298196554184,
-0.01718815043568611,
-0.028632832691073418,
0.0127621004357934,
-0.037911493331193924,
0.046689342707395554,
0.024957718327641487,
0.01635127142071724,
0.012216850183904171,
-0.037... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 1.1 Background
Government Audit is as old as organised governments and has fairly long pedigree even in developing countries. The concept, content and scope of government audit have developed in tune with the political, social and economic development of the countries. It has also responded ... | [
-0.004182618577033281,
-0.03193146362900734,
0.004442655015736818,
0.0026446282863616943,
-0.01879660226404667,
0.00006890009535709396,
-0.024747353047132492,
-0.0252499021589756,
-0.0032753462437540293,
0.07703525573015213,
0.034692324697971344,
-0.010924636386334896,
0.01379220001399517,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
Initially, government auditing in India as elsewhere was primarily expenditureoriented. Gradually, audit of receipts-tax and non-tax was taken up. With the rapid growth of public enterprises, another major area of specialisation, i.e., commercial audit, came into be... | [
-0.0010385658824816346,
-0.01953216642141342,
-0.02097637578845024,
-0.019220689311623573,
-0.020775260403752327,
-0.004431220702826977,
-0.011935732327401638,
-0.0365167073905468,
0.000654327857773751,
0.07167269289493561,
0.01435468252748251,
0.015582620166242123,
0.040331099182367325,
-... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Government auditing is
- ♦ the objective, systematic, professional and independent examination
- ♦ of fi nancial, administrative and other operations
- ♦ of a public entity
- ♦ made subsequently to their execution
- ♦ for the purpose of evaluating and verifying them,
- ♦ presenting a report con... | [
-0.008022096939384937,
-0.036505088210105896,
-0.02187763899564743,
0.002907595131546259,
-0.01586473360657692,
-0.00963978748768568,
-0.04036726430058479,
-0.013602064922451973,
0.00497018126770854,
0.06523425877094269,
0.03896088898181915,
-0.000004149089363636449,
0.034538887441158295,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## OBJECTIVES :-
- (a) Accounting for Public Funds: -Government audit serves as a mechanism or process for public accounting of government funds.
- (b) Appraisal of Government policies: -It also provides public accounting of the operational, management, programme and policy aspects of public adminis... | [
-0.00460980786010623,
-0.03585783392190933,
0.0029194033704698086,
0.014060337096452713,
-0.002755570225417614,
-0.008343776687979698,
-0.03490966558456421,
-0.03971832990646362,
-0.011999480426311493,
0.04601162299513817,
0.01286326814442873,
-0.009455464780330658,
0.02304983325302601,
-0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
- (c) Base for Corrective actions :-Audit observations based on factual data collection also serve to highlight the lapses of the lower hierarchy, thus helping supervisory level officers to take corrective measures.
Administrative a... | [
-0.013583985157310963,
-0.033786989748477936,
0.009211222641170025,
-0.008375607430934906,
-0.021591344848275185,
0.007961306720972061,
-0.036685384809970856,
-0.0021801888942718506,
-0.016970913857221603,
0.05850458890199661,
0.01439895574003458,
0.007120066788047552,
0.002059202641248703,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 1. APPOINTMENT & REMOVAL
The Constitution guarantees the independence of the C&AG of India by prescribing that he shall be appointed by the President of India and shall not be removed from office except on the ground of proven mis -behaviour or incapacity. As in the case of a Judge of the ... | [
-0.00029385494417510927,
-0.0493454746901989,
-0.005323256365954876,
-0.008462747558951378,
-0.020396197214722633,
-0.02145860716700554,
-0.015571929514408112,
0.016587605699896812,
-0.03217775747179985,
0.06277118623256683,
0.05454234406352043,
0.007114959880709648,
0.020094415172934532,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 2. TENURE
The Comptroller & Auditor General's (Duties, Powers and Conditions of Service) Act, 1971 passed in pursuance of the provisions of the Constitution lays down a fi xed tenure of the office prescribing that he shall be paid a salary which is equal to the salary of the Judge of the ... | [
-0.0042755198664963245,
-0.052463967353105545,
-0.019966647028923035,
0.013358280062675476,
-0.009586848318576813,
0.007927590049803257,
-0.014756914228200912,
0.006422128994017839,
-0.004851408768445253,
0.02834380231797695,
0.05413265898823738,
-0.0031658431980758905,
0.05077795684337616,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 3. VARIOUS CONSTITUTIONAL PROVISIONS
- i. Article 149 states that the C&AG shall perform such duties and exercise such powers in relation to the accounts of the Union and of the States and of any other authority or body as may be prescribed by or under any law made by the Parliament. The Compt... | [
0.013545849360525608,
-0.07076618820428848,
0.015450208447873592,
-0.0014332277933135629,
-0.027771098539233208,
0.004358096048235893,
0.015529283322393894,
0.020052185282111168,
-0.008275742642581463,
0.04031622037291527,
0.032814934849739075,
0.01955731399357319,
0.020952101796865463,
-0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Duties of the C&AG:
- (i) Compile and submit Accounts of Union and States The Comptroller and Auditor General shall be responsible for compiling the accounts of the Union and of each State from the initial and subsidiary accounts rendered to the audit and accounts offices under his contr... | [
0.0015705620171502233,
-0.047651324421167374,
0.01856694370508194,
0.02568313293159008,
-0.022200603038072586,
-0.011356689967215061,
-0.0024353235494345427,
0.010891076177358627,
0.015122986398637295,
0.017328407615423203,
0.03103811666369438,
-0.0006712862523272634,
0.013478796929121017,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
Government or any other person responsible in that behalf] prepare in each accounts (including, in the case of accounts compiled by him, appropriation accounts) showing under the respective heads the annual receipts and disbursement... | [
0.016450349241495132,
-0.034057751297950745,
0.008478406816720963,
-0.0006745861028321087,
-0.027912626042962074,
-0.024566687643527985,
-0.0019834258127957582,
-0.0007487850962206721,
-0.00953424721956253,
0.05581259727478027,
0.0233380775898695,
0.012302296236157417,
0.029786933213472366,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
accounts of government companies shall be performed and exercised by him in accordance with the provisions of the Companies Act, 2013. The Comptroller and Auditor- General of India shall appoint the auditor under section 139(5) ... | [
-0.013020874001085758,
-0.03597036749124527,
0.024096470326185226,
-0.030871175229549408,
-0.02818521298468113,
0.012015179730951786,
-0.014709708280861378,
-0.007156320847570896,
-0.019072402268648148,
0.060850001871585846,
0.024058230221271515,
0.013540222309529781,
0.03278388828039169,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## The C&AG Act gives the following powers to the C&AG in connection with the performance of his duties-
- (a) To inspect any office of accounts under the control of the Union or a State Government including office responsible for the creation of the initial or subsidiary accounts.
- ... | [
0.020691853016614914,
-0.05737655609846115,
0.03281446173787117,
0.0020306245423853397,
-0.019341163337230682,
-0.011746839620172977,
0.034825317561626434,
0.021519534289836884,
-0.018767066299915314,
0.07353420555591583,
0.02545989863574505,
0.04253888875246048,
0.03199477866292,
-0.02748... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 1.4 Expenditure Audit
The audit of government expenditure is one of the major components of government audit. The basic standards set for audit of expenditure are to ensure that there is provision of funds authorised by competent authority fixing the limits | [
-0.007512468378990889,
-0.049775950610637665,
-0.006425174884498119,
-0.003135733073577285,
0.006659886799752712,
-0.009316077455878258,
0.02425575628876686,
-0.05170964449644089,
0.012330422177910805,
0.0644570142030716,
0.024222012609243393,
0.02360461838543415,
0.032756414264440536,
-0.... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
within which ex-penditure can be incurred. These standards are-
- (i) that the expenditure incurred conforms to the relevant provisions of the statutory enactment and in accordance with the Financial Rules and Regulations framed by the competent authority. Such an au... | [
-0.00033519198768772185,
-0.041440319269895554,
-0.01494985818862915,
-0.008629260584712029,
-0.03975079208612442,
0.002535473322495818,
0.001488245907239616,
-0.012833810411393642,
-0.03115440346300602,
0.08887184411287308,
0.042295485734939575,
0.026825180277228355,
0.015238766558468342,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
followed by government servants in dealing with government transactions; and
- (iii) Rules and orders regulating the conditions of service, pay and allowances, and pensions of government servants.
It is the function of the executive ... | [
0.011163935996592045,
-0.037401728332042694,
0.006032391916960478,
-0.007524146232753992,
-0.02249949425458908,
0.0015850696945562959,
-0.02346119098365307,
0.011651438660919666,
-0.022813739255070686,
0.07156673818826675,
0.04702024906873703,
0.02487589418888092,
0.01474704034626484,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
(4) Propriety audit - According to 'Propriety audit' , the auditors try to bring out cases of improper, avoidable, or ineffective expenditure even though the expenditure has been incurred in conformity with the existing rules and regulations. With the passage of time... | [
0.00332096335478127,
-0.02162373624742031,
0.011295043863356113,
0.0007726785843260586,
-0.029209692031145096,
0.00758402980864048,
-0.00998296681791544,
-0.006692412309348583,
-0.03528779000043869,
0.07233446091413498,
0.0412704274058342,
-0.007059927098453045,
0.027462389320135117,
0.009... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
- (iii) the expenditure is in pursuance of a recognised policy or custom; and
- (iv) the amount of allowances, such as travelling allowances, granted to meet expenditure of a particular type should be so regulated that the allowance... | [
-0.013262438587844372,
-0.026102300733327866,
0.010433521121740341,
-0.00793837197124958,
-0.033550530672073364,
0.02168026939034462,
-0.011141130700707436,
-0.012980298139154911,
-0.03123307228088379,
0.05302024632692337,
0.044827964156866074,
0.024954063817858696,
0.038192953914403915,
-... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
expected of them, i.e., the relationship between goods and services produced and resources used to produce them; and examination aimed to find out the extent to which operations are carried out in an economical and efficient manner.
Economy audit looks into whether government ... | [
-0.02432766743004322,
-0.02142004482448101,
-0.028590112924575806,
0.0002319062186870724,
-0.05715904012322426,
-0.017819447442889214,
-0.03598686680197716,
-0.024583671241998672,
-0.008804147131741047,
0.051694635301828384,
0.01964288204908371,
0.0018100165762007236,
0.00028532612486742437,... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 1.5 Audit of Receipts
The audit of receipts is neither all pervasive or as old as audit of expenditure but has come to stay in some countries. Such an audit provides for checking;
- (i) whether all revenues or other debts due to government have been correctly assessed, realised and credited ... | [
-0.014709929004311562,
-0.04060284420847893,
0.019755546003580093,
0.002392299473285675,
-0.0185752734541893,
-0.027530109509825706,
-0.004784515593200922,
-0.02080417610704899,
0.006475353147834539,
0.06788846105337143,
0.017197828739881516,
-0.003395500360056758,
0.010527804493904114,
0.... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
- (iv) whether adequate checks are imposed to ensure the prompt detection and investigation of irregularities, double refunds, fraudulent or forged refund vouchers or other loss of revenue through fraud or willful omission ... | [
-0.01159759797155857,
-0.02634715847671032,
0.035444777458906174,
-0.01707310602068901,
-0.040194522589445114,
-0.01608213223516941,
0.009745169430971146,
-0.0005421707173809409,
-0.03986801952123642,
0.08723970502614975,
0.014916769228875637,
0.0388309508562088,
0.01891302689909935,
-0.03... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
- ♦ to ascertain whether the Regulations governing purchase, receipt and issue, custody, sale and inventory taking of stores are well devised and properly carried out.
- ♦ to bring to the notice of the government any deficiencies in quantities of stores he... | [
-0.018693512305617332,
-0.030207382515072823,
0.0063870977610349655,
0.012539152055978775,
-0.019009415060281754,
-0.01933685690164566,
0.00575066776946187,
0.002274592872709036,
-0.00013304057938512415,
0.08095306903123856,
0.026672692969441414,
0.009595622308552265,
0.012545151636004448,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 1.7 Audit of Commercial Accounts
Public enterprises are required to maintain commercial accounts and are generally classified under three categories -
- (a) departmental enterprises engaged in commercial and trading operations, which are subject to the same laws, fi nancial and other regulation... | [
0.00448530213907361,
-0.022717289626598358,
0.027087334543466568,
-0.024263860657811165,
0.027738245204091072,
-0.02810095250606537,
-0.03298969566822052,
-0.042938217520713806,
0.011705166660249233,
0.059098828583955765,
0.0026206483598798513,
0.009409820660948753,
0.05850820615887642,
-0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## The audit of :-
- departmental concerns is undertaken in the same manner as any department of government where commercial accounts are kept.
- statutory bodies or corporations depends on the nature and type of the statute governing the bodies or corporations. Financial / accounts audit is cond... | [
0.027022192254662514,
-0.0598146878182888,
0.027272364124655724,
0.006357728503644466,
0.004343018401414156,
-0.014310216531157494,
-0.016148509457707405,
-0.012934941798448563,
-0.024366207420825958,
0.0803859606385231,
0.025017572566866875,
0.008084017783403397,
0.028848635032773018,
-0.... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Role of C&AG is prescribed under sub section (5), (6) and (7) of section 143 of the Companies Act, 2013.
- (1) Power to appoint Government Company Auditor :-Section 143(5) of the Act states that, in the case of a Government company or any other company owned or controlled, directly or indirect... | [
0.005731790792196989,
-0.05631367489695549,
0.028435805812478065,
0.008998991921544075,
-0.04589255526661873,
-0.010559849441051483,
0.013015583157539368,
0.009216342121362686,
-0.030760105699300766,
0.05622605234384537,
0.029997332021594048,
0.0054386081174016,
0.018455645069479942,
-0.01... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## AUDITING AND ETHICS
- (2) Power to conduct Supplementary Audit & comment thereupon :-The Comptroller and Auditor-General of India shall within 60 days from the date of receipt of the audit report have a right to,
2. (a) conduct a supplementary audit under section 143(6)(a), of the finan... | [
0.019716687500476837,
-0.03123241476714611,
-0.014590435661375523,
0.01257550623267889,
-0.02686045505106449,
-0.012203940190374851,
0.01990463398396969,
-0.003214179538190365,
-0.007518365979194641,
0.06003418192267418,
0.0045161982998251915,
0.037500426173210144,
0.03100227192044258,
-0.... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
The C&AG has power to conduct a supplementary or test audit of the company's accounts by such person as he may authorise in this behalf and for the purposes of such audit require information or additional information to be furnished to a... | [
0.013111216016113758,
-0.02220015972852707,
0.021409591659903526,
0.0034409016370773315,
-0.024271907284855843,
-0.004843133967369795,
0.0319598950445652,
0.018296005204319954,
-0.037716761231422424,
0.06873393058776855,
0.012193657457828522,
0.04635971784591675,
0.009547475725412369,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 1.8 Reporting Procedures
The effectiveness of an audit depends on reporting results to the proper authority so that appropriate action may be taken to rectify the irregularities or impropriety where possible or to prevent re-occurrence. The right as also the obligation to report on the... | [
-0.01020823698490858,
-0.03330359607934952,
-0.011962248012423515,
-0.008673857897520065,
-0.03773988410830498,
-0.014099455438554287,
-0.001069889054633677,
0.007935701869428158,
-0.00493605574592948,
0.07362014800310135,
0.013880633749067783,
0.013738112524151802,
-0.016285490244627,
-0.... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## Test Your Understanding 1
It is the duty of Comptroller and Auditor General of India to audit and report on all expenditure from the Consolidated Fund of India and of each State and of each Union Territory having a Legislative Assembly and to ascertain whether the moneys shown in the accounts a... | [
-0.014827059581875801,
-0.04045611619949341,
-0.031906746327877045,
0.03531818464398384,
-0.015576551668345928,
-0.019424602389335632,
0.008054577745497227,
-0.0024259653873741627,
0.0054151867516338825,
0.05736055225133896,
0.03155555948615074,
0.0249253511428833,
0.030344879254698753,
-0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 2.1 Background
- (1) A Municipality can be defined as a unit of local self -government in an urban area. By the term 'local self-government' is ordinarily understood the administration of a locality - a village, a town, a city or any other area smaller than a state - by a body representing ... | [
0.013206818141043186,
0.0004952395102009177,
0.018224485218524933,
-0.0006097083678469062,
-0.03514120355248451,
-0.020357709378004074,
-0.021707281470298767,
-0.04800176993012428,
-0.0054499865509569645,
0.0616898313164711,
0.02976428158581257,
0.039130568504333496,
-0.0068522002547979355,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
was restricted to education, public health, sanitation, medical relief, roads and a few public works. This was so because these bodies were considered to be inefficient and they lacked adequate financial resources. These bodies derived their... | [
0.00506321806460619,
0.005081410985440016,
-0.001472734846174717,
-0.011680078692734241,
-0.02622883766889572,
0.009955499321222305,
-0.026527944952249527,
-0.013331850059330463,
-0.031283389776945114,
0.051818475127220154,
0.03995438292622566,
0.005539493169635534,
0.047167010605335236,
-... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## (2) Municipal government in India covers fi ve distinct types of urban local authorities -
- ♦ the municipal corporations,
- ♦ the municipal councils,
- ♦ the notified area committees,
- ♦ the town area committees and
- ♦ the cantonment committees.
- (3) Municipal authorities are endowed with spec... | [
0.018878426402807236,
-0.006846187170594931,
0.013537457212805748,
-0.010960225015878677,
-0.04214106872677803,
-0.018434064462780952,
-0.005870589520782232,
-0.02113076113164425,
-0.024608192965388298,
0.06468725949525833,
0.013239436782896519,
0.027717869728803635,
0.04874708503484726,
-... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 2.2 Financial Administration
It would be imminent on the part of the auditor to understand fi nancial administration of local bodies before embarking upon the audit. Some of the aspects are as under:
- (a) Budgetary Procedure: This is geared to subserve the twin consider... | [
-0.005066613666713238,
-0.023796038702130318,
-0.018325787037611008,
-0.029839737340807915,
-0.038420096039772034,
0.006958724930882454,
-0.012216451577842236,
-0.03345026075839996,
-0.013851478695869446,
0.05712573230266571,
0.051548343151807785,
0.004903827328234911,
0.019264457747340202,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
- (b) Expenditure Control: The system of financial control existing in the state and central government level is conditioned by the fact that there is a clear demarcation between the legislature and executive. The integration of legislation ... | [
-0.007074846886098385,
-0.018573647364974022,
0.01812092587351799,
-0.03333176672458649,
-0.03172780200839043,
0.01713736169040203,
0.0010908854892477393,
-0.032821983098983765,
-0.01943051815032959,
0.07004526257514954,
0.03188406303524971,
0.046110257506370544,
0.03970413655042648,
-0.03... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 2.3 Objective of Audit of Local Bodies
The external control of municipal expenditure is exercised by the state governments through the appointment of auditors to examine municipal accounts. However, the municipal corporations of Delhi, Mumbai and a few others have powers to appoint their own audi... | [
-0.018346207216382027,
-0.018417736515402794,
0.0231645368039608,
-0.029070589691400528,
-0.06700855493545532,
-0.014562993310391903,
-0.0023364187218248844,
-0.057882849127054214,
-0.01419899147003889,
0.060107894241809845,
0.03885352984070778,
0.03528366982936859,
0.008348126895725727,
-... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 2.4 Audit Programme for Local Bodies
- (i) APPOINTMENT :-The Local Fund Audit Wing of the State Govt. is generally in-charge of the audit of municipal accounts. Sometimes bigger municipal corporations e.g. Delhi, Mumbai etc. have power to appoint their own auditors for regular external ... | [
0.014214983209967613,
-0.028621073812246323,
0.009459557943046093,
-0.010643021203577518,
-0.040129274129867554,
-0.018344732001423836,
0.012938103638589382,
-0.0190394576638937,
-0.02352527529001236,
0.07833937555551529,
0.03857050836086273,
0.013302466832101345,
0.05590211972594261,
-0.0... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
- (v) PROVISIONING :- He should ensure that there is a provision of funds and the expenditure is incurred from the provision and the same has been authorized by the competent authority.
- (vi) PERFORMANCE :-The auditor should check that ... | [
-0.006116197910159826,
-0.011349916458129883,
-0.006078260485082865,
-0.010146607644855976,
-0.0255636777728796,
0.014807789586484432,
-0.006386726163327694,
-0.0006782441632822156,
-0.017137035727500916,
0.0510280542075634,
0.017627805471420288,
0.02601076103746891,
0.038290370255708694,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 3.1 Background
- (1) NGOs can be defined as non -profit making organisations which raise funds from members, donors or contributors apart from receiving donation of time, energy and skills for achieving their social objectives like imparting education, providing medical facili... | [
-0.005824225954711437,
-0.007375001907348633,
-0.03647499158978462,
-0.0024375796783715487,
-0.002435040194541216,
-0.019996194168925285,
0.01025838777422905,
-0.008821964263916016,
-0.006470812484622002,
0.058106690645217896,
0.027084561064839363,
0.019233159720897675,
0.04160698130726814,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 3.2 Sources and Applications of Funds
- (1) The main sources of funds include grants and donations, fund raising programmes, advertisements, fees from the members, technical assistance fees / fee for services rendered, subscriptions, gifts, sale of produce or publications, etc.
2. (a) D... | [
-0.0022249524481594563,
-0.025864971801638603,
-0.008206279017031193,
0.010057936422526836,
-0.011964012868702412,
-0.027867812663316727,
0.02660045027732849,
0.0004907591501250863,
-0.02354765683412552,
0.018474742770195007,
0.023260459303855896,
-0.004974718671292067,
0.023530740290880203,... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
shall form part of the corpus of the trust or institution shall not be included in the computation of total income.
- (c) The objective of a contribution or grant towards a Revolving Fund is to rotate the amount by giving temporar... | [
-0.001098558190278709,
-0.0012911211233586073,
-0.0365113765001297,
-0.0007983497343957424,
-0.02393326163291931,
-0.005732521414756775,
-0.0019641737453639507,
0.010204353369772434,
-0.024228163063526154,
0.05213114246726036,
0.034526675939559937,
0.0035920741502195597,
0.03376127779483795,... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 3.3 Provisions Relating to Audit
The auditors of an NGO registered under the Societies Registration Act, 1860 (or under any law corresponding to this Act, in force in any part of India) or the Indian Trusts Act 1882 are normally appointed by the Management of the Society or Trust.
The auditors o... | [
-0.047245386987924576,
-0.030564164742827415,
-0.004856547806411982,
-0.007249714806675911,
-0.006023799069225788,
0.019304407760500908,
0.0020696520805358887,
-0.010962908156216145,
0.0008322419598698616,
0.051327262073755264,
0.019394399598240852,
0.019933627918362617,
0.01385777909308672,... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## While planning the audit, the auditor may concentrate on the following:
- (i) Knowledge of the NGO's work, its mission and vision, areas of operations and environment in which it operate.
- (ii) Updating knowledge of relevant statutes especially with regard to recent amendments, circulars... | [
-0.016959618777036667,
-0.024048393592238426,
-0.02344047650694847,
0.004635349381715059,
-0.011480475775897503,
-0.0012309683952480555,
0.0007506388938054442,
-0.004213288426399231,
-0.01831686496734619,
0.04598655179142952,
0.027219729498028755,
0.01499106828123331,
0.03802336007356644,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
- (ii) Reserves: Vouch transfers from projects / programmes with donors letters and board resolutions of NGO. Also check transfer of gross value of asset sold from capital reserve to general reserve and adjustments during the year.
- (iii) E... | [
-0.013720137067139149,
-0.003938756883144379,
-0.009234803728759289,
0.034329723566770554,
-0.031154055148363113,
-0.006722697988152504,
0.018694434314966202,
0.003804969834163785,
-0.007939932867884636,
0.023099960759282112,
0.03907906264066696,
-0.003663597395643592,
0.05718470737338066,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## The receipt of income of NGO may be checked on the following lines:
- (i) Contributions and Grants for projects and programmes: Check agreements with donors and grants letters to ensure that funds received have been accounted for. Check that all foreign contribution receipts are deposited in the ... | [
-0.018560364842414856,
-0.02814767323434353,
-0.018164319917559624,
0.006934687029570341,
-0.0033621422480791807,
-0.012512021698057652,
0.031955644488334656,
0.019356364384293556,
0.004383719526231289,
0.026889240369200706,
0.002020648680627346,
0.023720841854810715,
0.03365408629179001,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## 4. AUDIT OF SOLE TRADER
A sole trader is under no legal obligation to have his accounts audited. However, many such individuals get their financial statement audited due to regulatory requirements, such as inventory brokers or on a specific instructions of the bank for approval of loans,... | [
-0.014896372333168983,
-0.035900719463825226,
-0.04768027365207672,
0.02410239540040493,
-0.010419346392154694,
-0.0064402236603200436,
-0.0036824452690780163,
0.026188425719738007,
0.010408422909677029,
0.09429026395082474,
0.049859192222356796,
0.03929034247994423,
0.019777953624725342,
... |
Inter_P5_Audit_Mod2_Chapter_9_Special_Features_of_Audit_of_Different_Type_of_Entities.pdf | Audit | Study_Material | N/A | [Concept: Theory]
## SPECIAL FEATURES OF AUDIT OF DIFFERENT TYPES OF ENTITIES
Appointment of Auditor : Auditors of sole- proprietary concern shall be appointed by the sole proprietor himself. In case of change of auditor, it would be duty of incoming auditor to communicate with the previous auditor. As such, ... | [
-0.025587620213627815,
-0.019567951560020447,
0.006350133568048477,
-0.027998628094792366,
-0.034404367208480835,
0.0324101448059082,
-0.0284990556538105,
-0.021979399025440216,
-0.031122488901019096,
0.06354349106550217,
0.08418647944927216,
0.008276822045445442,
0.01669328846037388,
-0.0... |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.