The rapid growth of data-driven industries has positioned data centers as critical infrastructure for businesses worldwide. These facilities not only host massive amounts of information…

A risk-based approach to auditing financial statements involves identifying and assessing the ‘risk of material misstatement’ (RoMM) and responding to those risks to express an…

A sound financial reporting system is a key contributor to economic development. The financial reporting system should be backed by strong standards (that are aligned…

Companies expanding through acquisitions will generally have a lot of subsidiaries. These companies are required to prepare their standalone financial statements as well as consolidated…

General purpose financial statements of a Company that are so often used by various stakeholders such as the shareholders, prospective investors, regulators, employees, lenders amongst…

A fundamental decision management must make when preparing financial statements is whether to prepare them on a going concern basis. Under the going concern basis,…

In our previous two articles on audit trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA) to mandate the use…

Every year, minor amendments to the International Financial Reporting Standards (IFRS) are introduced by the International Accounting Standards Board (IASB) by way of annual improvements.…

In our previous article, the first of two installments on Audit Trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA)…