Positioning Of Internal Audit In Corporate Framework

CONTENTS: Introduction Scope Internal Audit in corporate framework Principles of Internal Audit ICAI’s Standards on internal audit Internal Audit process Benefits Conclusion Introduction :  Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Scope: The scope of internal auditing within an organization involves topics such as an organization’s governance, risk management and management controls. Internal auditing [...]

Audit Under Banking Environment

Banking sector: The IT saga in Indian banking commenced from the mid-eighties of the twentieth century when the RESERVE BANK took itself the task of promoting automation in banking to improve customer service, book keeping, MIS and productivity. This role played by the reserve bank had continued for years…. Introduction of MICR based cheques processing- a first for the region during the years 1986-1988. BANKING SECTOR DEVELOPMENTS (COMPUTERISATION OF BANKS): Computerisation of branches of banks- in the late eighties with the introduction of [...]


The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of the bills by Parliament and a separate one by all state Assemblies will complete the legislative process for roll out of the GST, the one-nation-one-tax system that merges central taxes like excise duty and service tax and state levies like VAT. What is GST bill?  Goods and [...]

The Power of Belief System

What is it?? Does it really affects our lives?? Is there any need to understand it?? The answer is Yes….and the reason will be known to you as you will go through this article. First of all, let me explain you the meaning of BELIEF SYSTEM: This is the system of our Thought Process running continuously in our mind either we are awake or sleeping. This is the real state of our mind that directs us regarding what to do or i [...]

Fake Rent Receipt Won’t Help You Lower Tax Burden Anymore

For as long as anyone can remember, producing fake property rent receipt, often from parents and relatives, has been an easy way to lower tax burden. Such cavalier disregard for tax rule was overlooked by most employers as well as taxman, who possibly felt it was a minor transgression. Perhaps, not anymore. The income tax department now has good reason to insist on proof from the tax payer showing that he is indeed a genuine tenant, staying in the property [...]

The Fear of English…………

The Fear of English............ Hello. My Name is Mohit Khurana and i am writing this article for the first time in my life. For the past few weeks i was searching on the internet that how can i improve my english and my communication skills and the most common answer i got on every website is that if you want to increase your writing skills, start writing something in your own words it may be a letter, a paragraph, an [...]

One Life, Many Struggles

One Life…….Many Struggles A lot of people already predicted that this article is related to their own lives because they can easily relate themse lves with the word in heading above “Struggles” Actually, the reason behind writing this article is just to pen down my own view on this word because I am suffering with this word too. Yesterday, I was talking to my friend and was telling her about my family, and then suddenly I told her “I lived a life full [...]


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