Monday, March 23, 2009

Abdul Majeet - Videos


Banks may send confirmation to the company, rather than to the auditor

Definition of audit may have to be changed if more procedures become part of the assignment

Audited STPI returns were available in the case of Satyam

Insight on the pattern of cashflow and margin in Satyam


Roll-over of fixed deposits is a norm in many IT companies

When is withdrawal of audit opinion justified

The auditors have followed the prescribed procedure

Will auditors be required to go to bank and confirm the balance

Importance of representation from management

Internal audit was in-house

Employee payments leave a trail


Reliance on the work of other auditors

Cash levels in companies are dependent on their strategy

Checks and balances when verifying transactions in the services business

Did the company run a parallel set of books

What typically happens in a restatement exercise


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