Indian Cabinet approves MOU between ICAI and Institute of Professional Accountants of Russia
3 min read
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has approved the signing Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR).
Cabinet approves MoU between Institute of Cost Accountants (ICoAl) and ACCA, United Kingdom
2 min read
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Memorandum of Understanding (MoU) between Institute of Cost Accountants of India (ICoAl) and the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK), will provide mutual advanced entry to the Members of both the Institutes through...
Important ISA for UN audits
2 min read
All United Nations staff are obligated to comply with the Financial Regulations and Rules and with administrative instructions issued in connection with those Regulations and Rules. Any staff member who contravenes the Financial Regulations and Rules or corresponding administrative instructions may be held personally accountable and financially liable for...
International Standards of Auditing
2 min read
Compliance audit is the independent assessment of whether a given subject matter is in compliance with applicable authorities identified as criteria. Compliance audits are carried out by assessing whether activities, financial transactions and information comply in all material respects, with the authorities which govern the audited entity. Compliance auditing...
INDIAN AUDIT AND ACCOUNTS DEPARTMENT AUDITING STANDARDS 2017 Comptroller and Auditor General of India CONTENTS Preface CHAPTER-I Introduction Purpose and Authority of the Standards Mandate Prerequisites for functioning CHAPTER-II General Standards Public Sector Auditing and its Objectives Types of Public Sector Audits Elements of Public Sector Auditing Confidence and...
Performance Audit- CAG`s Auditing Standards-2017
11 min read
Performance audit is an independent, objective and reliable examination of whether public sector undertakings, systems, operations, programmes, activities or organizations are operating in accordance with the principles of economy, efficiency and effectiveness.The main objective of performance audit is to constructively promote economical, effective and efficient governance.
Financial Audit- CAG`s Auditing Standards-2017
18 min read
The purpose of an audit of financial statements is to enhance the degree of confidence of intended users in the financial statements. This is achieved through the expression of an opinion by the auditor as to whether the financial statements are prepared, in all material respects, in accordance with...
General Standards: CAG`s Auditing Standards-2017
19 min read
Public sector audit environment is that in which governments and other entities exercise responsibility for the use of national wealth, natural resources, resources derived from taxation and other sources in the delivery of services to citizens and other recipients. These entities are accountable for their management, performance and use...
Basic Postulates: CAG`s Auditing Standards-2017
11 min read
The Comptroller and Auditor General of India (CAG) who is the head of Supreme Audit Institution of India (SAI India) discharges his constitutional functions through the Indian Audit and Accounts Department. The Constitution of India provides for the Comptroller and Auditor General of India who is appointed by the...
In pursuance of Section 23 of the Comptroller and Auditor General’s (Duties, Powers and Conditions of Service) Act, 1971, (Act No 56 of 1971), the Comptroller and Auditor General of India hereby makes the following Regulations,