This presentation explains about the meaning as well as various types of audit report which an auditor has present in his books of accounts for the sake of the company's shareholders and various other groups.
This presentation explains about the meaning as well as various types of audit report which an auditor has present in his books of accounts for the sake of the company's shareholders and various other groups.
Audit Programme is prepared before the actual auditing procedure starts. it is essential for Auditors. There are numerous things that need to be considered while making an audit programme.
Verification and valuation of assets presentation by Syed Ali Gohar Shah 21/1...Syed Ali Gohar Shah Shah
This presentation was assigned by Respected Teacher SIR ATTA HUSSAIN SHAH and was presented by SYED ALI GOHAR SHAH In SINDH UNIVERSITY MIRPURKHAS CAMPUS. On the date of Monday 21/10/2019.
An exercise whose objective is to enable auditors to express an opinion on whether the financial statements give a true and fair view (or equivalent) of the entity’s affairs at the period end and of its profit or loss (or income and expenditure) for the period then ended and have been properly prepared in
accordance with the applicable reporting framework (e.g. relevant legislation and applicable accounting standards) or where statutory or other specific requirements prescribe the term, whether the financial statements “present fairly”.
Presentation on vouching and verification for the benefit of B Com financial Audit students, topics covered are vouching of revenue items , verification and valuation of capital expenditure, receipts and valuation and verification of inventory
THERE ARE SO MANY STANDARDS OF AUDITING, HERE IN THIS PDF, I HAVE EXPLAINED ANY 10 STANDARDS ON AUDITING WITH FLOWCHARTS, PICTURES FOR BETTER REFERENCE OF THE TOPIC
Audit Programme is prepared before the actual auditing procedure starts. it is essential for Auditors. There are numerous things that need to be considered while making an audit programme.
Verification and valuation of assets presentation by Syed Ali Gohar Shah 21/1...Syed Ali Gohar Shah Shah
This presentation was assigned by Respected Teacher SIR ATTA HUSSAIN SHAH and was presented by SYED ALI GOHAR SHAH In SINDH UNIVERSITY MIRPURKHAS CAMPUS. On the date of Monday 21/10/2019.
An exercise whose objective is to enable auditors to express an opinion on whether the financial statements give a true and fair view (or equivalent) of the entity’s affairs at the period end and of its profit or loss (or income and expenditure) for the period then ended and have been properly prepared in
accordance with the applicable reporting framework (e.g. relevant legislation and applicable accounting standards) or where statutory or other specific requirements prescribe the term, whether the financial statements “present fairly”.
Presentation on vouching and verification for the benefit of B Com financial Audit students, topics covered are vouching of revenue items , verification and valuation of capital expenditure, receipts and valuation and verification of inventory
THERE ARE SO MANY STANDARDS OF AUDITING, HERE IN THIS PDF, I HAVE EXPLAINED ANY 10 STANDARDS ON AUDITING WITH FLOWCHARTS, PICTURES FOR BETTER REFERENCE OF THE TOPIC
It is a presentation on basic introduction to the subject of CLSP - Secretarial Practices. This is published only for education and information purpose.
CLSP - Unit 7 - Winding Up of CompaniesAjay Nazarene
It is a presentation on basic introduction to the subject of CLSP - Winding Up of Companies. This is published only for education and information purpose.
It is a presentation on basic introduction to the subject of CLSP - Management of Company. This is published only for education and information purpose.
It is a presentation on basic introduction to the subject of CLSP - Documents of a Company.
This is published only for education and information purpose.
CLSP - Unit 4 - Share Capital & MembershipAjay Nazarene
It is a presentation on basic introduction to the subject of CLSP - Share Capital & Membership.
This is published only for education and information purpose.
auditing is an examination of accounting
records undertaken with a view to establish whether they correctly and completely reflect the transactions to which they relate.
Generally accepted accounting principlessanjoygiri
Introduction of Generally Accepted Accounting Principles: These widely accepted accounting principles that are generally recognized by almost all the persons associated with accounting along with representation of accepted accounting practices are known as ” Generally Accepted Accounting Principles”.
It is the summation of all theories, doctrine, conventions, or principles closely related to the accounting which got global recognition.
International Staandards on Auditing 200FarhanNasir21
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02/01/2015 when the Press Information Bureau, Government of India, Ministry of Corporate Affairs (MCA) issued a note outlining the various phases in which Indian Accounting Standards converged with IFRS (Ind AS) is proposed to be implemented in India it was a landmark reforms in accounting & reporting sector. With this the Companies other than Banking Companies, Insurance Companies and NBFCs will be covered. Indian Accounting standard is highly precise. Thus Conversion Ind AS (the converged IFRS standards) in India may significantly affect a company’s day-to-day operations and may even impact the reported profitability of the business itself. Of course Conversion brings a one-time opportunity to comprehensively streamline the financial reporting.
El Aseguramiento financiero garantiza que los contratos firmados con los usuarios se cumplan; debe existir una plena armonía entre la actividad
operativa y administrativa de la organización para que la información tenga un alto grado de calidad y un nivel de confiabilidad.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
2. Topics covered under this chapter
• Mandatory Accounting Standards issued by Institute of
Chartered Accountants of India
• Professional Ethics of an Auditor.
•Auditing Standards and Procedures
• An overview Generally Accepted Accounting Practices
and Auditing Procedures
•Statements on Standard Auditing Practices and Guidance
Notes.
3. Professional Ethics of an Auditor
The word ethics means a set of moral principles or moral philosophy and
standards of conduct. It involves all standards of behavior.
Professional ethics refers to the behavior of a professional person towards
other members of their profession in particular and towards members of the
public in general.
International Federation of Accountants (IFAC) is of the opinion that, “an
essential prerequisite for any group of such persons (professional
accountants) is the acceptance and observance of professional ethical
standards regulating their relationship with clients, employers, employees,
fellow members of the group and the public generally.”
4. Professional Ethics of an Auditor
International Federation of Accountants (IFAC) emphasis the following
principles for professional accountants –
1. Integrity – Should be a person of integrity
2. Independence – Having no interest or control in the company
3. Objectivity – Be objective in giving opinion or report
4. Confidentiality – Be confidential about the business of the customer
5. Technical Standards – Follow all accounting standards and practices
6. Competence – Should be professionally competent to perform his
duties
5. Accounting Standards – Introduction
• International - International Auditing and Assurance Standard Board
(IAASB) constituted by International Federation of Accountants (IFAC)
• India - Auditing and Assurance Standards Board (AASB) constituted by
Institute of Chartered Accountants of India (ICAI)
• AASB includes elected members of Council of ICAI, eminent members in the
profession and special invitees from SEBI, RBI, IRDA, IIT, Associations of
Industry.
• International Accounting Standards (IAS) are issued by International
Accounting Standards Committee (IASC)
• International Auditing Guidelines (IAG) are issued by International Auditing
Practices Committee (IAPC) of International Federation of Accountants (IFA)
6. Accounting Standards issued by AASB
Standards issued by Auditing and Assurance Standards Board are
1. Standards of Auditing (SA) which are applied to historical financial
information.
2. Standards on Review Engagements (SRE) are applied to the review of
historical financial information.
3. Standards on Assurance Engagement (SAE) are applied to assurance
engagements.
4. Standards on Related Services (SRS) are applied to engagements involving
application of procedures to information, compilation engagements and
other related engagements.
5. Standards on Quality Control (SQC) are applicable to all services covered
by the engagement standards as above.
7. Objectives and Functions of AASB
1. Reviewing of existing and emerging audit practices across the world
2. Formulation of SA, SRE, SAE, SRS and SQC
3. Reviewing of existing standards and statements of Auditing
4. Developing Guidance Notes
5. Reviewing and revising existing Guidance Notes
6. Formulating general clarifications wherever necessary
7. Formulating and issuing Technical Guides, Practice Manuals, Studies etc.
8. Procedure for issuing Standards of Auditing
1. The broad areas which require SA shall be determined by AASB as well
as the priority in selection of SA.
2. The study group constituted by AASB shall consider the specific
subjects. The study group shall be constituted of members of the
Institute.
3. On the basis of work done by study group, the proposed draft of SA
shall be prepared by the Committee which is released for the comments
of members of the Institute.
9. Procedure for issuing Standards of Auditing
4. After considering the comments of members of the Institute, the
proposed draft of SA shall be finalized by AASB and is referred to the
Council of the Institute.
5. The final draft of proposed SA is considered by the Council of the
Institute, which may be modified by the Council with the consultation
of AASB, thereafter it is issued under the authority of the Council.
10. Guidance Notes
• ICAI has issued from time to time many guidance notes on matters
of accounting and auditing.
• They have been issued with a view to securing compliance by
auditors.
• They are issued to provide guidance to auditors in certain
accounting or auditing contingency.
• They are recommendatory in character.
11. Generally Accepted Accounting Practices
• Auditing of financial statements seeks to ensure that the
financial statements are prepared with due regard to
accounting conventions.
• Known as Accounting Conventions, Concepts or Doctrines,
these give uniformity in presentation of financial data.
12. Generally Accepted Accounting Practices
Important concepts in this aspect are as follows –
1. Double entry system of accounting.
2. Going concern concept – Current assets are valued at their realizable
value and fixed assets are valued at cost less depreciation.
3. Accrual concept – Income is to be recognized if right to receive it has
occurred irrespective of actual collection of it. Expense is to be
accounted if it has occurred irrespective of actual payment of it.
4. Distinction between Capital Expenditure and Revenue Expenditure.
5. Conservatism – All losses either present or probable are to be
provided. Income is to be recognized only if it is not unreasonable to
expect its ultimate recovery at the time of its occurrence.
13. Accounting Standard of ICAI
According to Accounting Standard 1 of the ICAI, financial statements are
assumed to be prepared and presented on the basis of the following
assumptions –
1. Going concern – That the enterprise has neither necessity nor intention to
close the operations in foreseeable future
2. Consistency – Accounting policy followed in the last year is continued to be
followed this year also
3. Accrual – Revenue and expenditure are accounted on due basis
irrespective of collection or payment
14. Accounting Standards
• Accounting Standards that are Issued by - ICAI
• Issued Accounting Standards - 32
• Formulated by ASB which was set up on 21st April, 1977
• In Force Accounting Standards - 31
• Notified Accounting Standards - 29 (by Ministry of Corporate
Affairs)
15. List of Accounting Standards
AS-1 : Disclosure of Accounting Policies
AS-2 : Valuation of Inventories
AS-3 : Cash Flow Statements
AS-4 : Contingencies and Events Occurring
after the Balance Sheet
AS-5 : Net Profit or Loss for the Period,
Prior Period Items and Changes in
Accounting Policies
AS-6 : Depreciation Accounting
AS-7 : Accounting for Construction
Contracts
AS-8 : Accounting for research &
development – (withdrawn & merged
with AS-26)
AS-9 : Revenue Recognition
AS-10 : Accounting for Fixed Assets
AS-11 : The Effects of Changes in Foreign
Exchange Rates
AS-12 : Accounting for Government Grants
AS-13 : Accounting for Investments
AS-14 : Accounting for Amalgamations
AS-15 : Employee Benefits
AS-16 : Borrowing Costs
16. List of Accounting Standards
AS-17 : Segment Reporting
AS-18 : Related Party Disclosures
AS-19: Leases
AS-20 : Earnings per Share
AS- 21: Consolidated Financial
Statements
AS-22 : Accounting for Taxes on Income
AS-23 : Accounting for Investments in
Associates in consolidated financial
statements
AS-24 : Discontinuing Operations
AS-25 : Interim Financial Reporting
AS-26 : Intangible Assets
AS-27 : Financial Reporting of Interests
in Joint Ventures
AS-28 : Impairment of Assets
AS-29 : Provisions, Contingent
Liabilities & Contingent Assets
AS-30 : Financial Instruments:
Recognition & Measurement
AS-31 : Financial Instruments:
Presentation
AS-32 : Financial Instruments:
Disclosures