CHARTERED ACCOUNTANT’S Documentation and Compliance for Audits and Reviews 2017 by CA Pramod Jain Cla

CHARTERED ACCOUNTANT’S Documentation and Compliance for Audits and Reviews

With the recent developments, the role of auditors have been widened and the reliance being placed on their reports have increased. They are invariably called to evidence that they performed their duties with utmost care and in compliance with applicable laws and standards. In such a case only proper and adequate documentation by the auditor can come to his rescue.

Further Demonetization caught the business world unawares with now the duty cast on the auditors to report the specifiedbank notes transactions by the corporate world in their audit reports. Income Computation and Disclosure Standards (ICDS) notified by Central Board of Direct Taxes is also effective for tax audits conducted for financial year ending 31st March 2017.

Hence the need of keeping them updated with the grappling amendments in all the legislations, namely the Companies Act, 2013; Standards of Auditing and Accounting Standards is necessary.

This book contains the information on Standards of Auditing, Accounting Standards, Companies Act,2013 (as applicable for auditors) in an abridged manner, with the tabular presentation wherever possible, in a reader friendly manner.

It brings in an insight into the role of auditors, as prescribed under the provisions of Companies Act 2013, Peer Review Board, Quality Review Board, FRRB, NFRA and ICAI

It contains more than 100 drafts, which are ready to be used, for a Practicing Chartered Accountant, during the course of their planning, execution and reporting for various Audits. It also contains drafts of various templates and documents which are required for the maintenance of their resourcing and staffing activities.

Key Features

• Engagement documents to comply with Standards on Auditing

• Ready to use checklists for compliances of ICDS, Demonetization Reporting, Standards on Auditing, Accounting Standards, CARO 2016, etc

• Drafts of various other documents to be maintained for audits for reviews

• Drafts of various documents related to Staff supervision and development

• Drafts of various documents related to office systems

• More than 100 drafts of ready to use documents for day-to-day professional use.

• Ready to use drafts and check-lists including for compliance and audit of financial statements prepared for Companies as per Companies Act 2013

• Auditor’s Duties and Penalties under Companies Act 2013

• Detailed section on Financial Statements for Companies

• Detailed section on various Reviewers of CA audit work

• Peer Review Process

• Quality Review Process

• Summary of Income Computation and Disclosure Standards (ICDS)

• Summary of Accounting Standards (AS)

• Summary of Convergence to IFRS

• Summary of revised Standards on Auditing (SAs)

• Summary of Standards on Review Engagements (SREs)

• Summary of Standards on Assurance Engagements (SAEs)

• Summary of Standards on Related Services (SRSs)

• Detail of Standards on Internal Auditing (SIAs)

• Detail of Accounting Standards for Local Bodies (ASLBs)

• Detail of various Guidance Notes, Framework, Statements and Notifications issued by ICAI.

• Detail of recommendatory fee structure for various professional activities rendered by a practicing CA fir