Ind AS 38- Intangible Assets
Ind AS 38- Intangible Assets An intangible asset is an asset that does not have a physical existence and cannot be seen or touched but its existence can easily be felt. For example, Goodwill, Patent, Copyright, Formula, License, Recipe, Mastheads etc. The valuation of such an asset is complex and has to be carefully dealt… Continue reading Ind AS 38- Intangible Assets
Need of Internal Audit
Need of Internal Audit The purpose of auditing internally is to provide insight into an organization’s culture, policies, procedures, and aids board and management oversight by verifying internal controls like operating effectiveness, risk mitigation controls, and compliances with relevant laws or regulations. Reasons why there’s an importance of Auditing Internally Internal auditing programs are critical… Continue reading Need of Internal Audit
Amendments in CARO, 2020
Amendments in CARO, 2020 CARO 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013. CARO 2020 includes additional reporting requirements after consultations with the National Financial Reporting Authority (NFRA). NFRA is an independent regulatory body to regulate the audit and accounting profession in… Continue reading Amendments in CARO, 2020