In view of the extensive changes in the provisions of Companies Act and accounting with notification of Indian Accounting Standards, there is a complete evolvement in auditor’s role. This provides guidance on various aspects of financial statements which are audited and on the reporting thereof like consolidation, reporting on internal controls, frauds etc.
The book would contain a brief overview of certain key topics / sections which are more frequently required to be dealt with by auditors followed by a checklist which would not only serve as a guidance for the main provisions but would also provide documentary evidence of having performed all the necessary procedures to support their opinion on the financial statements.
This books provides relevant provisions of the Act and the various Rules which are relevant for audit.
This book also provides the accounting treatment and disclosures which arises as a result of adoption of Indian Accounting Standards (Ind-AS) which are the IFRS Converged Standards for certain entities. The applicability and road map for convergence to Ind-As is also discussed briefly.
1. Audit procedures 2. Presentation & Disclosure Requirements 3. Types of Resolutions to be passed 4. Documents to be filed with ROC/ CG 5. Matters requiring approval of the Board, Shareholders & CG. 6. Statutory Registers to be maintained. 7. Disclosures in the Board Report and Web Site. 8. Including links to relevant accounting standard
- Extensively covers the Internal Financial Control over Financial Reporting and Consolidation of Financial Statements
- Includes comprehensive checklist for the auditors to ensure compliance of all the relevant applicable provisions of Companies Act on key areas including Share Capital, Depreciation, CSR, Related parties transactions etc.
- Discusses the Applicability, Accounting treatment and Disclosures for implementation of Ind-AS.
- Covers the analysis of Company Law Committee Report, Draft Notification on CARO, 2016 as well as Amendments to Schedule III of Companies Act, 2013 in compliance with Ind-AS Rules.
- Extensive checklist from Auditors perspective comprising: Almanac of sections of Companies Act, 2013 & Companies Rules, 2014 relevant for auditors
- Almanac of sections of Companies Act, 2013 & Companies Rules, 2014 relevant for auditors
About the Author:
CA Zubin F. Billimoria, Graduation in commerce from the Mumbai University in 1985, fellow member of the Institute of Chartered Accountants of India (ICAI) (Qualified in 1989) and a Company Secretary (Qualified in 1992) has 30 years of working experience with Deloitte Haskins & Sells, Chartered Accountants (“Deloitte”) and its associate firm S.B. Billimoria & Co. in the Audit and Assurance Function, including 7 years as a partner till 31st March, 2015. He has been involved in the Statutory Audit, Tax Audits, IFRS Audits, financial due diligence services, Internal Audits and other assignments for a wide spectrum of clients in different industries and sectors including in all spheres of financial services sector covering Banks, Financial Institutions, Broking companies, Insurance Companies, Insurance Broking Companies and Mutual funds and real estate and hotels.