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A Company Secretary is an individual who has qualified for the examinations and completed the required practical and theoretical sessions conducted by the Institute of Company Secretaries of India (ICSI), a body of registered Company Secretaries founded in 1980. [2]
As per Section 2(51) of the Companies Act 2013, Company Secretaries are a company's Key Managerial Personnel (KMP). [5] Other KMPs in a company include the Chief Executive Officer, the managing director, the Whole-time Director, the Chief Financial Officer, and such other officers designated by the Board as KMP but are not more than one level below the directors in whole-time employment. [5]
ISA 230 Audit Documentation is one of the International Standards on Auditing.It serves to direct the documentation of audit working papers in order to assist the audit planning and performance; the supervision and review of the audit work; and the recording of audit evidence resulting from the audit work in order to support the auditor's opinion.
Company secretaries in all sectors have high level responsibilities including governance structures and mechanisms, corporate conduct within an organisation's regulatory environment, board, shareholder and trustee meetings, compliance with legal, regulatory and listing requirements, the training and induction of non-executives and trustees, contact with regulatory and external bodies, reports ...
Audit working papers are the documents which record during the course of audit evidence obtained during financial statements auditing, internal management auditing, information systems auditing, and investigations. Audit working papers are used to support the audit work done in order to provide the assurance that the audit was performed in ...
The audit process lacked rigor, and questions were raised about PwC’s independence and adherence to auditing standards. [28] The Supreme Court of India (November 2010) rejected a plea by the two charged auditors to stay the proceedings by the ICAI Disciplinary committee.
Performance audit refers to an independent examination of a program, function, operation or the management systems and procedures of a governmental or non-profit entity to assess whether the entity is achieving economy, efficiency and effectiveness in the employment of available resources. [1]
The auditor should plan a company's audit based on the information found in the previous step. Planning an audit helps the auditor obtain sufficient and appropriate evidence for each company's specific circumstances. It helps predict audit costs at a reasonable level, assign the proper manpower and time line and avoid misunderstandings with ...