Audit
FINANCIAL AUDIT –A TOOL TO AVOID FINANCIAL FRAUDS -III
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Vat Audit
Vat Audit is a popular concept in foreign countries. Countries like France & Korea have made VAT audit compulsory to keep a check on tax evasion. The concept of VAT audit is new for India. But most of the states have incorporated the audit provisions since inception. Especially some states like Maharashtra, Karnataka [...]
FINANCIAL AUDIT –A TOOL TO AVOID FINANCIAL FRAUDS II
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Applicability of Audit
The entities which come under statutory audit are: (1) The audit of specified entities governed by sec. 44 AB of the Income Tax Act 1961. (2) Banking Companies which comes under the Banking Regulation Act 1949. (3) Co- operative Societies governed by Co- operatives Act 1912. (4) Electricity Companies under Electricity Act [...]
FINANCIAL AUDIT –A TOOL TO AVOID FINANCIAL FRAUDS
In today’s economic environment, information and accountability have vital role for any business to flourish. The information which the business organization provides should be accurate and reliable. To ensure the reliability and the accuracy, audit is not only necessary but is also indispensable.The most general definition of audit is an evaluation of a person, [...]