Introduction: Auditors play a critical role in ensuring the accuracy, reliability, and transparency of financial information. Their work is essential for maintaining the integrity of the financial landscape in any city, and Chennai is no exception. As a bustling metropolitan city and a major economic hub in India, Chennai’s financial [...]
Financial audits are one of the biggest reasons why year-end reporting may be stressful. However, these audits establish you as a reliable company in the eyes of banks, government agencies, and shareholders. Generally, a financial audit involves reviewing an organization’s financial statements and related documents to ensure that they are [...]
Extension of due dates relating to Income-tax returns and Audit reports Section Nature of compliance Original Due Date Due date extended by the Ordinance 2020 New due dates notified on 24-Jun-20 Section 139(1) Filing of original return for the Assessment Year 2019-20 [...]
In a press statement issued on Wednesday, the corporate affairs ministry said it had notified the Companies (Auditor’s Report) Order, 2020, (CARO) on Tuesday to enhance due diligence and disclosures by auditors and bring greater transparency into the financial affairs of companies. [...]
For investors, it’s a new place in an annual report where they can find clues to financial risks facing a company that are currently under the radar but could snowball into something big. For auditors, it’s a way to insulate themselves from a future backlash, even censure, on the quality [...]