In term of Income Tax, A person carries quite a wide meaning. In a layman's sense, a person is an individual, a person existing in this world, born as a man, a ...

Difference between Continuous Audit and Interim Audit are. Continuous Audit. Work of audit is carried on for the whole of the financial year according to ...

An Auditor's report is a statement of facts collected by the auditor during the course of his audit of financial statement and accounts of the client. An ...

The main points of difference between accounting and auditing are: Accounting Nature: It is constructive in nature as it is concerned with compilation of ...

Testing and test checking means to select and examine a representative sample from a large number of similar items. In a big business house, it is rather ...

A continuous audit is one where the auditor or his staff is constantly engaged in checking the accounts during the whole period or where the auditor or his ...

List of Statutory Duties of a Company Auditor. Duty to report . Section143(2) and (3) of the Companies Act, 2013 requires the auditor to make areport to ...

Every businessman maintains accounts but he invariably thinks that auditing is a luxury. Auditing of accounts is a sheer wastage of time and money. Let us ...

The following points, show the relationship/difference between routine checking and vouching: The auditor verifies the arithmetical accuracy of the entries ...

The verification of assets implies an inquiry into the value ownership and title existence and possession the presence of any charge on the assets. Joseph ...

Auditor Responsible for Verification: It is the duty of an auditor to report in concrete terms that the Balance Sheet exhibits a true and fair view of the ...

Vouchers can be classified as Primary and Collateral : Primary Vouchers: When a written evidence is available in original, it is known as primary voucher. ...