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I. Introduction In the world of auditing, it has never been practical—or necessary—to examine every single transaction. Audit sampling has been a cornerstone of efficient and effective audits, enabling chartered…

How SA 320 Helps Auditors?   -Focus Where It Counts  How SA 320 Helps Auditors?   -Focus Where It Counts  Materiality is a fundamental concept in auditing that helps auditors to determine…

Standard on Auditing (SA) 500 – Audit Evidence, issued by the Institute of Chartered Accountants of India (ICAI), lays down the foundational principles for auditors to gather and evaluate evidence…

The Standards on Quality Management are guidelines issued by the ICAI on 14th October 2024, for all the firms performing audits or reviews of financial statements or other assurance or…

Ensuring the integrity of the finances and presenting an accurate financial statement is critical for any business to maintain its business reputation, and auditing plays one of the most crucial…

Deferred tax refers to the accounting taxes that are either payable or recoverable in future periods. Deferred taxes straight-line the impact of accounting profit and taxable profit. This gap leads…

Segment reporting is the process of disclosing a business organization’s data on profits, expenses, and revenue generated for each of its divisions or product lines in its financial statement. It…