LMP’s Chartered Accountant’s Documentation and Compliance for Audits and Reviews By Pramod Jain – 11th Edition 2023.

LMP’s Chartered Accountant’s Documentation and Compliance for Audits and Reviews By Pramod Jain – 11th Edition 2023.

Key Features :

Though auditors of financial statements are regulated by ICAI, yet various stakeholders are assuming regulatory powers including Ministry of Corporate Affairs (through Companies Act, 2013), NFRA, SEBI, RBI, CAG, etc. Frauds in IILF, PMC Bank, PNB, Yes Bank, etc., have raised eyebrows towards their auditors.. The expectation gap needs to be bridged as well as the quality of audit and its documentation needs to be improved drastically and same has been captured in this book in detailed and tabular manner.

All stakeholders are relying on assurance given by auditors through their reports and in case of any fraud or misrepresentation by the management; auditors are invariable called to evidence that they performed their duties with utmost care and in compliance with applicable laws and standards. In such a case only proper and adequate documentation by the auditor can come to their rescue to evidence that they performed their duty with utmost care and best of their ability. This book will be a very helping and guiding tool to the auditors and corporate professionals for proper documentation.

Due to amendments under various regulations, impact of COVID-19 on financial statements and assurance engagements, ICAI Code of Ethics 2019 to be made effective from 1^st July 2020, etc. it was thought prudent to revise this book taking into account the role of auditors and audit firms to adequately document their quality controls and performance of their engagements to withstand review of their quality controls and engagements by any regulator. book hast also the update amendments in Technical Professional and Ethical Standards and contains more than 115 drafts of ready to use documents which would be very useful for a practicing Chartered Accountant in his day-to-day delivery of professional service.

Key Features

•  More than 120 drafts of ready to use documents for day-to-day professional use for audit and related systems.
• Draft engagement letters for Audits, Compilation Engagements, Prospective Financial Statements, Tax Representations, ITR filing, GST Return filing, etc.
• Draft management representation letters for statutory audit, tax audit, CARO, etc.
• Detailed section on Financial Statements for Companies as per amended Schedule III
• Checklist as per new CARO 2020
• Ready to use checklists for compliances of Standards on Auditing, Accounting Standards, ICDS,
• Ready to use drafts and checklists including for compliance and audit of financial statements prepared for Companies as per Companies Act 2013
• Peer Review Process and related FAQS Auditor’s Duties and Penalties under Companies Act 2013
• Drafts of various documents to be maintained for Peer Review, Quality Review and other Reviews
• Draft engagement documents to comply with Standards on Auditing, CARO 2020, etc.
• Detailed section on various Reviewers of CA audit work Quality Review Process and related FAQS
• Detail of various Guidance Notes, Framework, Statements and Notifications issued by ICAI. • Drafts of various documents related to Staff supervision and development
• Drafts of various documents related to office systems
• Summary of Accounting Standards (ASS) Summary of Standards on Auditing (SAS)
• Summary of Standards on Assurance Engagements (SAEs)
• Summary of Income Computation and Disclosure Standards (ICDS)
• Detail of recommendatory fee structure for various professional activities rendered by a practicing CA firm Documentation as per ICAI Code of Ethics 2019

Details :