What is CA Tushar Makkar known for?

CA Tushar Makkar is known for being AIR 47 in CA Final and creating India's largest audit community.

What services does CA Tushar Makkar offer?

He offers audit resources, courses, and expertise to chartered accountants.

What is Audit and Assurance?

Audit and assurance play an important role in preserving the integrity and transparency of financial information in India. With a growing financial system and a robust company region, the want for effective audit and warranty offerings has turned out to be paramount. This article offers an outline of the audit and warranty landscape in India, highlighting its importance, regulatory framework, key players, and emerging tendencies.

Audit is the independent examination of financial statements and other applicable information of an entity to specific an opinion on its fairness and compliance with applicable accounting requirements. Assurance services, however, embody a broader scope, which includes attestation engagements, internal control reviews, and compliance assessments.

In India, the primary regulatory frame overseeing audit and assurance services is the Institute of Chartered Accountants of India (ICAI). Established below the Chartered Accountants Act, 1949, ICAI is chargeable for setting auditing and guarantee standards, regulating the career, and ensuring the competency of its members.

The auditing standards in India are based at the International Standards on Auditing (ISAs) issued by using the International Auditing and Assurance Standards Board (IAASB). However, ICAI has made certain adjustments and issued precise steering to in shape the Indian prison and regulatory environment.

One of the huge trends in the audit and guarantee panorama in India is the advent of the Companies Act, 2013. The Act has greater the function of auditors by way of increasing their responsibilities and reinforcing their independence. It mandates obligatory rotation of auditors and imposes stringent consequences for non-compliance and fraudulent sports.

The audit and warranty marketplace in India is dominated by means of the & quote; Big Four & quote; accounting corporations, namely Deloitte, PricewaterhouseCoopers (PwC), Ernst and Young.
Reference Links:-

Top 10 Mistakes to Avoid During CA Articleship (and How to Overcome Them)

A Deep Dive into Auditing: Real-Life Challenges Faced During Articleship

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What is Audit and Assurance?

A Deep Dive into Auditing: Real-Life Challenges Faced During Articleship

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