The proposal to remove statutory audits for small companies risks eliminating independent financial scrutiny, potentially ...

It’s almost impossible to get a ‘true and correct’ view of financials because that would mean the auditor looks into every piece of document in the company. Whether it was accounting lapses which came ...

While financial audit serves the interest of the shareholders, we need cost audit for catering to the needs of the Government, the regulatory bodies, and the society at large, argues ‘Social Utility ...

Form 182 audit report is mandatory to claim deduction under Section 48 for tea, coffee, and rubber businesses, ensuring compliance and ...

A nonstatutory audit report is any audit that is not legally required. For example, the Securities and Exchange Commission and the Sarbanes-Oxley Act both require companies to perform certain types of ...

The National Financial Reporting Authority (NFRA), the country’s sole independent audit regulator, has found several deficiencies in the statutory audit conducted by EY member firm SRBC & Co LLP of ...

A statutory audit is not a demand-driven service. It is a legally mandated regulatory requirement. Investors and business owners, particularly in small and medium enterprises or businesses not ...