Accounting and Auditing (A Checklist Approach)

With Financial Reporting & Auditing Amidst COVID - 19
......................................................................................................................................

Description
Auditing (whether it is statutory audit under Companies Act, 2013 or under the Income-tax Act, 1961) is becoming an  Increasingly complex and onerous reporting requirements. Since past few months, we, in India, have seen regular in Accounting Standards, Standards on Auditing, multiple changes in the provisions of Companies Act, 2013, Revised Form 3CD, revised SEBI LODR requirements, internal financial control reporting requirement and numerous laws and regulations and reporting requirements. In recent times, there has been an increased focus of the regulators on financial reporting and the role of auditors. The Ministry of Corporate Affairs has made National Financial Reporting Authority (NFRA) as the independent regulator of the audit profession to take disciplinary actions against auditors and to oversee the quality of  service rendered by chartered accountants at large entities. As per the notified rules, the NFRA will have the power to monitor and enforce compliance with accounting standards and auditing standards, oversee the quality of service, and undertake investigations of the auditors of specified companies.
......................................................................................................................................

Table of Contents
Part I : Accounting
Chapter 1 : Checklist on Accounting Standards
Chapter 2 : Checklist on Indian Accounting Standards (Ind AS)
Chapter 3 : Checklist on Schedule III - Companies Act, 2013
Chapter 3.1 : Checklist on Schedule III - Division I
Chapter 3.2 : Checklist - Schedule III - Division II
Chapter 3.3 : Checklist - Schedule III - Division III
Chapter 3.4 : Key Recent Regulatory Updates for Statutory Audit for FY 2020-21 
Part II : Auditing
Chapter 4 : Checklist under Auditing and Assurance Standards
Chapter 4.1 : Key Recent Pronouncements related to Audit 
Chapter 5 A : Checklist on Companies (Auditor's Report Order, 2016)
Chapter 5 B : Checklist on Companies (Auditor's Report) Order, 2020
Chapter 6 : Checklist on Internal Control Over Financial Reportings
Chapter 7 : Checklist on Auditor's Appointment
Annexure : 7
Annexure : 7.2
Annexure : 7.3
Annexure : 7.4
Annexure : 7.5
Chapter 8 : SEBI COVIND - 19 - Implications on Accounting Standards & Indian Accounting
                      Standards (AS & Ind AS)
Chapter 9 : Checklist on Form 3CD under Tax Audit u/s 44AB Alond with Annexures
Part III - Financial Reporting & Auditing Amidst Covid - 19
Chapter 10 : COVIND - 19 - Implications on Accounting Standards & Indian Accounting
                        Standards (AS & Ind AS)
Chapter 11 : Audit Checklist - Key Audit Consideration Related to Covid - 19 - Outbreak
Chapter 12 : COVID - 19 Disclosure in Audit Report 2020 by Key Indian Companies
...................................................................................................................................... 

Author Details
CA Santosh Maller, The author is an Associate Chartered Accountant, having secured rank in CA exams, with about 16 years of extensive experience in Accounting, Audit and Assurance fields. He has worked with several diverse companies, Indian and multinational companies, on IFRS and Ind AS GAAP conversion engagements, in India and overseas, in manufacturing, telecom, real estate, shipping and logistics. He has been a member of IFRS desk/accounting technical professional practice group of a big audit firm for over 8 years. He has had a stint in London, during which he was closely associated with the IFRS standard-setting projects of the International Accounting Standards Board, such as, revenue, leases and financial instruments. The author has been serving as a special invitee for Ind-AS on the ICAI's, Accounting Standards Board and has been part of many study groups of the ICAI. He has authored several media articles on Accounting and Valuation and has been an eminent speaker and technical trainer on financial reporting and corporate governance. The author has also authored several other books on Ind AS and taxation.