Companies Act

Introduction During an audit of financial statements, the auditor must obtain sufficient appropriate audit evidence to support the audit opinion. Although general principles apply to all areas, certain items involve higher risk and judgment. Therefore, SA 501 provides specific guidance for audit procedures relating to: Inventory Litigation and claims Segment information These areas directly affect […]

INTRODUCTION SA 500 deals with the auditor’s responsibility to obtain sufficient appropriate audit evidence to form an opinion on the financial statements. The core principles of SA 500 remain fundamentally consistent; however, its application has evolved due to technology, data analytics, automated controls, and increased regulatory focus. Objective of the Auditor The auditor must obtain […]

Introduction If you run any food business in India, you must obtain FSSAI Registration or License. The government has made this mandatory to ensure food safety, hygiene, and consumer protection. Today, FSSAI works as a strict and technology-driven regulator. It monitors food businesses through digital systems, inspections, and structured compliance rules. Therefore, every Food Business […]

Introduction During the course of an audit, the auditor may identify errors, omissions, or incorrect disclosures in the financial statements. These are known as misstatements. SA 450 provides a clear framework for dealing with such misstatements in a systematic and professional manner. This Standard ensures that the auditor evaluates every identified misstatement properly, communicates it […]

Introduction Section 194J of the Income Tax Act governs Tax Deducted at Source (TDS) on payments made for professional and technical services. Whenever a business pays fees to doctors, lawyers, engineers, consultants, or technical experts, it must deduct TDS before making the payment. As of February 2026, the provisions amended by the Finance Act 2025 […]