Interest Overbilling
Our team conducted an internal audit of a government corporation specializing in leasing commercial properties to businesses. During our examination, we scrutinized the payment schedule, which had been previously endorsed by senior officials, as the foundation of our audit to assess the timeliness of payments. Initially, everything appeared to be in order, potentially explaining the […]
Chartered Accountants: Partners in the Nation’s Economy
Introduction: Chartered Accountants play a vital role in driving economic growth, ensuring financial stability, and fostering transparency and accountability in the nation’s economy. This article explores the multifaceted role that these professionals play and their significant contributions to economic development. 1. Financial Reporting and Assurance: 2. Compliance and Governance: 3. Strategic Financial Management: 4. Tax […]
How IFRS 15 Is Transforming Revenue Recognition for Businesses
IFRS 15, the revenue recognition standard issued by the International Accounting Standards Board (IASB), is fundamentally changing how companies recognize revenue from contracts with customers. This article explores the key ways in which IFRS 15 is reshaping revenue recognition practices and the impact it is having on businesses globally. 1. Clarification of Revenue Recognition Criteria: […]
Audit outsourcing and India as a choice!
We all know that Auditing is a critical process that helps businesses ensure transparency, accuracy, and compliance with regulatory requirements and for maintaining this trust, Professional Accounting firms are playing their pivot role throughout the world. As businesses expand globally, the need for auditing services has also increased, leading to the increase in size of […]