Bharat’s Statutory Audit — A Ready Reckoner for Accounting Standards Compliant Companies by CA. Kamal Garg – 3rd Edition July 2022.

Bharat’s Statutory Audit — A Ready Reckoner for Accounting Standards Compliant Companies by CA. Kamal Garg – 3rd Edition July 2022.

About Bharat’s Statutory Audit — A Ready Reckoner

Division I

Appointment of Auditors

Chapter 1       Appointment and Removal of Auditors

Chapter 2       Management Services and the Auditors

Chapter 3       Code of Ethics

Division II

Audit of Items of Financial Statements — Ready Reckoner

Chapter 4       Books of Accounts and Financial Statements

Chapter 5       Consolidation of Financial Statements

Chapter 6       Audit Checklist for Share Capital

Chapter 7       Audit Checklist for Reserve and Surplus

Chapter 8       Audit Checklist for Borrowings

Chapter 9       Audit Checklist for Trade Receivables

Chapter 10     Audit Checklist for Cash and Cash Equivalents

Chapter 11     Audit Checklist for Inventories

Chapter 12     Audit Checklist for Fixed Assets and Property, Plant and Equipment (PPE)

Chapter 13     Audit Checklist for Intangibles

Chapter 14     Audit Checklists for Trade Payables and Current Liabilities

Chapter 15     Audit Checklists for Loans and Advances and Other Current Assets

Chapter 16     Audit Checklists for Provisions and Contingent Liabilities

Chapter 17     Audit Checklists for Sale of Products and Rendering of Services

Chapter 18     Audit Checklists for Other Income Comprising Interest Income, Dividend Income, Gain/Loss on Sale of Investments etc.

Chapter 19     Audit Checklists for Purchases

Chapter 20     Audit Checklists for Employee Benefits Expenses

Chapter 21     Audit Checklists for Depreciation and Amortisation

Chapter 22     Audit Checklists for Other Expenses like Power and Fuel, Rent, Repair to Building, Plant and Machinery, Insurance, Travelling, Legal and Professional, Miscellaneous Expenses

Chapter 23     Audit Checklists for Taxes on Income and Minimum Alternative Tax (MAT)

Appendix 1    Financial Statements for a Company: Schedule III

Division III

Schedule III Templates

Chapter 24     Balance Sheet and Profit & Loss Formats

Chapter 25     Specimen Cash Flow Statement

Chapter 26     Practice Pointer Issues on Accounting Standards

Chapter 27     Checklists of Accounting Standards

Division IV

SA and CARO Checklist

Chapter 28     Standards on Auditing (SA) Checklists

SA Checklists Part I

SA Checklists Part II

Chapter 29     Companies (Auditor’s Report) Order, 2016 — Checklist and Specimen Reporting for Significant Matters

Division V

Audit Prog – Audit Compliance Procedures

Chapter 30     Business Client Information Checklist

Chapter 31     KYC New Client

Chapter 32     Illustrative Audit Programmes for Accounting System & Internal Control

Chapter 33     Illustrative list of Questions to Evaluate Entity Level Controls Considering Nature of Business, Size of Operation and Organisational Structure of the Entity

Division VI

Formats of Engagement and Representation
Letters, Reports

Chapter 34     Illustrative Formats on Agreeing the Terms of Audit Engagements

Chapter 35     Illustrative Format of Representation Letter

Chapter 36     Illustrative Format on an Engagement Letter for an Agreed-upon Procedures Engagement

Chapter 37     Illustrative Format on Engagement Letter for a Compilation Engagement

Chapter 38     Illustrative Format on Engagement Letter for a Review of Interim Financial Information

Chapter 39     Illustrative Format on Engagement Letter for an Engagement to Review Historical Financial Statements

Chapter 40     Illustrative Format on Independent Auditor’s Reports on Financial Statements

Chapter 41     Illustrative Format on Practitioner’s Report with an Unmodified Opinion

Chapter 42     Illustrative Format on Auditor’s Report on Emphasis of Matter Paragraph and Other Matter Paragraphs

Chapter 43     Illustrative Formats on Auditor’s Reports with Modifications to the Opinion

Chapter 44     Illustrative Formats of Auditor’s Report with Modified Opinion

Chapter 45     Illustrative Formats on Auditor’s Report on Corresponding Figures and Comparative Financial Statements

Chapter 46     Illustrative Formats on Auditor’s Reports Relating to Going Concern

Chapter 47     Illustrative Formats on Auditor’s Report Relating to Other Information

Chapter 48     Illustrative Formats on Practitioners’ Compilation Reports

Chapter 49     Illustrative Formats on Review Reports on Interim Financial Information

Chapter 50     Illustrative Formats on Practitioners’ Review Reports

Chapter 51     Illustrative Formats on Special Purpose Financial Statements

Chapter 52     Illustrative Formats on Summary Financial Statements

Chapter 53     Illustrative Format on a Report of Factual Findings in Connection with Accounts Receivable

Chapter 54     Illustrative Formats on a Single Financial Statement and a Specific Element of a Financial Statement

Chapter 55     Illustrative Format of an Unmodified Report on a Projection

Chapter 56     Illustrative Formats on Service Organization’s Assertions

Chapter 57     Illustrative Formats on Modified Service Auditor’s Assurance Reports

Chapter 58     Illustrative Formats on Service Auditor’s Assurance Reports

Chapter 59     Information Requests and Other Client Admin Letters – Letter of Weakness and Appendix

Division VII

Revised Formats of Audit Reports effective from
1st April, 2018

Chapter 60     Companies Audit Report —Master Template

Chapter 61     Revised Format of Audit Report for Private Limited Company without IFC, CARO 2016, Cash Flow

Chapter 62     Revised Format of Audit Report for Private Limited Company with IFC, CARO 2016, Cash Flow

Chapter 63     Revised Format of Audit Report for Private Limited Company without IFC, but with CARO 2016, Cash Flow

Chapter 64     Revised Format of Audit Report for Private Limited Company without IFC, CARO 2016 but with Cash Flow

Chapter 65     Revised Format of Audit Report for Listed Limited Company.