It comes as no surprise that marketing whether traditional or digital, shapes up the businesses. In order to get consistent results from all the marketing put in place, it is important to have a regular evaluation with regards to how…
Foreign Exchange Management Act (FEMA), Its Meaning And Regulations
FEMA stands for ‘Foreign Exchange Management Act’. This is an official act amends and implements laws regulating foreign exchange in India. FEMA was established with the objective of “facilitating external trade and payments and promoting the orderly development and maintenance…
Studying Coso’s 4 Components Of Internal Control Over Financial Reporting
One of the first requisites for a company’s management is the formulation of reliable financial data. If the business is handled efficiently, it can have a logical consequence which can give access to accurate information that determines the decision making…
GST in the Real Estate Sector
When it comes to meeting tax obligations, homebuyers along with property taxes, also have to pay the applicable GST on their property purchase. Over the last few years, several changes have been made to the GST regime directed towards the…
What is inventory management and its advantages?
Inventory management is the method with which the company can keep track of a company’s stocked goods and monitoring their weight, dimensions, amounts, and location. The primary objective of inventory management is to give the business owners a pointer to…
Presenting Yourself Before Audit Committee
No one would like to be on a sticky wicket or get caught off guard when delivering a presentation — and the stakes are high when you have to conduct the presentation in front of the Audit Committee. Audit Committee…
Impact of Covid 19 on Audit of Financial Statements and Audit Report
Effects on auditing financial statements Standard on Auditing are required to be complied in full even in the present time of pressure under changed timelines. Auditors should carefully assess the situation and prepare appropriate responses to the challenges that Coronavirus…
Tax Benefits Under Section 80C Of Income Tax Act, 1961
Section 80C of Income Tax Act, 1961 has been structured specifically to state all about the deductions of tax. This particular section of the IT act reduces the taxable income. Due to this reduction, under Section 80C, the tax liability…
Information Technology Audit
IT audit deals with review and evaluation of information processing systems, related- non automated process and an interface between them. It involves gathering information and planning and secondly, understanding of existing internal controls. As in today’s era organizations are moving…
Points to consider before accepting the Audit
Before accepting a new client, a chartered accountant firm in practice shall determine whether the acceptance would create any threats to compliance with the fundamental principles. This means that when accepting to take on a new client, the proper investigation…