Back

CA Auditya Audi

Omnipresent Man of R... • 2m

NFRA Findings on CA firm - inadequate control over *audit documentation 1. NFRA revealed that MSKA's system for maintaining Audit Work Papers had serious flaws, including allowing modifications to finalized documents without proper sign-offs. Also, the firm was found to have signed off blank work papers, raising doubts about the reliability of the audit evidence. 2. NFRA report highlighted several instances where NAS{Non-Audit Fees} fees exceeded audit fees, raising a potential self-interest threat & created self-review threats by involving services related to the *preparation of FS audited by MSKA. 3. It also has deficiencies in the testing of ICFR, in revenue recognition i.e., not testing key IT controls & missing essential test areas related to customer creation & invoicing. 4. On impairment of non-financial assets, NFRA found that the firm failed testing raising doubts about the adequacy of the audits. Also, in 2 selected co's the impairment showed significant deficiencies.

5 replies3 likes
Replies (5)

More like this

Recommendations from Medial

Image Description

Adithya Pappala

Launching India's Fi... • 3m

#9TDAYVC-DAY-12 🎯Types of Expenses for VC? 🎯What is a Self-Managed Fund? 🎯Organisational Expenses: These are costs for VC Funds which includes such as Incorporation Costs, Statutory Compliance Cost of the Funds, Placement Commissions, Distri

See More
1 replies1 like

Shuvodip Ray

 • 

YouTube • 10m

Scimplify, a platform for all sourcing and manufacturing of specialty chemicals, is raising a new round to the tune of $5 million, sources aware of the development told Entrackr. The new round is coming just after six months for the Bengaluru-based f

See More
0 replies4 likes
Image Description
Image Description

Sanskar

Keen Learner & Explo... • 7m

In 2016, a German journalist Bastian Obermayer has published 11.5M documents online. These documents contained details about financial tax evasion and money laundering of the VIPs and VVIPs. This list contained the names of 11 world leaders, politic

See More
4 replies8 likes
2
Image Description
Image Description

Adithya Pappala

Launching India's Fi... • 5m

🤫Only 1 Secret to raise funds from VC'S but sadly no-one is talking about It's very often that we show these 👇 to the Investors when raising funds: Problem Solution Product Market Gap Team Customers Revenue Achievements Etc... Even tho

See More
5 replies20 likes
11
Image Description
Image Description

Adithya Pappala

Launching India's Fi... • 2m

Only 1 Secret that you must know to raise funds from VC'S but sadly no-one is talking about.. It's very often that we show these 👇 to the Investors when raising funds: Problem Solution Product Market Gap Team Customers Revenue Achievements Et

See More
8 replies11 likes
5
Image Description

Yash

Trying to make thing... • 7m

My Plan 1) Making a Basic Website and Linking Startup Socials to it 2) Getting Ready the Startup Socials till August End 3) In September Starting , Incorporating my Startup as a Partnership Firm 4) After it, hiring unpaid tech interns for making

See More
1 replies8 likes
1
Image Description
Image Description

VCGuy

Believe me, it’s not... • 6d

Tom Perkins, founder of VC Firm Kleiner Perkins, offered an intriguing analogy: tackle your 'white hot risks' in the first 9 months of raising your first cheque. White hot risks → existential, high-stakes risks that can break your startup. "If you

See More
5 replies9 likes
2
Image Description
Image Description

Aastha Anand

Startup | VC | Autom... • 2d

You always hear about startups failing, but no one talks about VC funds going under. It happens more often than you think. Most fail because they chase hype instead of solid businesses, burn through capital without a follow-on strategy, or simply get

See More
2 replies16 likes
3
Image Description
Image Description

Himanshu

Zipped Folder • 11m

How to get initial money to start a startup? Hi everyone I am a 4th year engineering student. I have a great quick commerce idea. (I know being into quick commerce, it's hard to be a profitable brand). The idea is to deliver daily essentials within 5

See More
18 replies6 likes

Mridul Chandhok

Entrepreneur and Ger... • 8m

A girl like me nervous about doing business in this fast-paced startup world. Being confused in the world of fund raising, debt and equity terms . She couldn’t thought of someday starting her own business due to low confidence and lots of self- doubt

See More
1 replies7 likes

Download the medial app to read full posts, comements and news.