Author: indiafreenotes

ICAI is the highest accounting body in the country. And the ASB is a committee of the ICAI. But to…

The standards on auditing, review, other assurance, quality control and related services are aimed towards delivery of high-quality audits by…

Audit tick marks are abbreviated notations used on audit work papers to denote auditing actions taken. These tick marks are…

Engagement letter is a sent by an auditor to his client, after the receipt of communication regarding his appointment, but…

Qualification According to Provisions of Section 141(1) of the Companies Act, 2013 “a person shall be eligible for appointment as…

The remuneration of the auditor of a company shall be fixed in its general meeting or in such manner as…

Auditor Rights An auditor is a party that examines a client’s financial statements with the objective of presenting their opinion.…

Civil Liabilities Liability For Negligence of Assistants An auditor is entitled to rely on the work performed by the assistants.…

Internal control is a system that comprises of control environment and procedure, which help the organization in achieving business objectives.…

There are two terms ‘Procedure and techniques’, which are often used interchangeably, in fact, however a distinction does exist. “Procedure…