The Income-tax Act, 1961, provides various provisions to ease the tax compliance burden for small taxpayers, particularly for those engaged in business or profession. Under normal circumstances, taxpayers are required to maintain books of accounts, which can be a time-consuming and tedious task. To simplify tax calculations for small businesses, the Income-tax Act has introduced …
A CA firm, or a Chartered Accountancy firm, is a professional service firm that provides a range of financial and accounting services to businesses, organizations, and individuals. The services provided by CA firms include tax planning and compliance, auditing and assurance, financial accounting and reporting, management accounting, business advisory, and more. A CA firm typically …
Internal audit services are an essential part of any organization’s risk management framework. Internal audit services in Gurgaon, India, are no exception, and they are critical in ensuring that businesses in the region maintain their integrity and protect themselves from various risks. Internal audit services in Gurgaon refer to the independent examination and evaluation of …
Continue reading “Types, Purpose and Importance of Internal Audit Services”
Audit is a systematic examination of the financial statements, records, transactions, and operations of an organization to determine whether they comply with the applicable laws, regulations, and accounting principles, and whether they are reliable, accurate, and complete. The objective of an audit is to provide assurance to the stakeholders of an organization that the financial …
Internal audit controls are an essential part of a company’s overall risk management strategy. These are a set of procedures, processes, and systems implemented to ensure the accuracy and reliability of financial information, comply with relevant laws and regulations, and support the attainment of business objectives. Internal audit controls help to minimize the risk of …
Continue reading “Internal Audit Controls: All About the Internal Audit Controls”
Bookkeeping and accounting services are critical tasks that help businesses to maintain accurate financial records, track their performance, and make informed decisions. Bookkeeping and accounting records should be maintained on a regular basis, typically at least once a month, to ensure accuracy and completeness. It is important to maintain records in a timely manner to …
Continue reading “Bookkeeping and Accounting: Outsource Bookkeeping and Accounting Services”
Guidance note in audit of banks has been issued by Institute of Chartered Accountant of India (ICAI) on 21st January 2019. “Guidance Note on Audit of Banks” to provide detailed guidance to the members who undertake audits of banks and bank branches. The Guidance Note on Audit of Banks is issued by the Auditing and Assurance …
Continue reading “Guidance Note on Audit of Banks 2019 edition”
