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SA 500 – Audit Evidence Foundation for a Credible Audit Opinion
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…
Standards on Quality Management (SQMs) in Assurance Engagements
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…
Communication with Those Charged with Governance Under SA 260 – A Comprehensive Guide
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: The Concept, Reporting under AS and Ind AS, and Illustrations
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…
Segmental Reporting in Financial Statements – AS and Ind AS
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…