Here is Portfolio page of Sidant, with all his work

Buy back of Shares under The Companies Act 2013
Apr. 11, 2017
Buy back of Shares means the purchase by Company of its own shares. BuyBack of equity shares is an imperative mode of capital restructuring.It is a corporate financial strategy which involves capital restructuring and is prevalent globally with the underlying objectives of increasing Earnings per Share, avoiding hostile takeovers, improving returns to the stakeholders and rearranging the capital structure. buy back is one of an alternative way of R…
What are dependent and independent departments? Please explain.
Mar. 22, 2017
What is the importance of Strategic Management?
Apr. 11, 2017
What are characteristics of the business environment ?
Mar. 22, 2017
please explain how banks Classify their Investments
Mar. 24, 2017
what are the responsibilities of joint auditor as per SA 299 ?

Joint Auditors refers to audit of financial statements of business by more than one auditor. Such auditors are called Joint Auditors. These auditors conduct audit jointly and report on the financial statements of the entity. An effective audit requires proper division of work among the auditors, co-ordination between them and assumption and fixation of responsibility including reporting responsibilities amongst them. Division of work may be on the basis of identifiable units or specified areas. It may be with reference to items of assets and liabilities or income and expenditure. Important areas of audit should not be divided. The division of work should be properly documented and communicated. During the course of audit the auditor may come across some matter which is material for ascertaining the true and fair view of state of affairs of the operations of the entity as a whole. He should communicate such matter to the joint auditors. Joint and Several Liability: 1) Work that is not divided and is carried out by all. 2) Joint decisions taken regarding audit procedures to be performed by any one of them. 3) Disclosure requirements regarding financial statement. 4) For obtaining and evaluation information and explanations from the management. Individual Liability: 1) Reviewing the reports of the divisions or branches allocated to him. 2) Carrying out that part of audit work assigned to him in accordance with the generally accepted principles and audit procedures. 3) Ensuring compliance with all the legal and professional requirements regarding the disclosures to be made and presenting a true and fair view of the state of affairs and of the results of the division or branch assigned to him for audit. Report: The joint auditors should give one single report. But if they do not agree in any respect, then they should express their opinion through a separate report.
What are the advantages of Computer Aided Audit Techniques (CAATs)?

The use of computers may result in the design of systems that provide less visible evidence than those using manual procedures. CAATs are such techniques applied through the computer which are used in the verifying the data being processed by it. Advantages of CAAT (i) Audit effectiveness: The effectiveness and efficiency of auditing procedures will be improved through the use of CAAT in obtaining and evaluating audit evidence, for example (a) Some transactions may be tested more effectively for a similar level of cost by using the computer. (b) In applying analytical review procedures, transactions or balance details of unusual items may be reviewed and reports got printed more efficiently by using the computer. (ii) Savings in time: The auditor can save time by reviewing the CIS controls using CAAT than through other audit procedures. (iii) Effective test checking and examination in depth: CAAT permits effective examination in depth of selected transactions since the auditor constructs the lost audit trail
What are the different design and procedural aspects of Computerised Information System (CIS)?

The development of Computerised Information Systems (CIS) will generally result in design and procedural characteristics that are different from those found in manual systems. These different design and procedural aspects of CIS are- (i) Consistency of Performance: Computerised Information Systems (CIS) perform functions exactly as programmed and are potentially more reliable than manual systems, provided that all transaction type and conditions that could occur are anticipated and incorporated into the system. (ii) Programmed Control Procedures: The nature of computer processing allows the design of internal control procedures in computer programs. These procedures can be designed to provide controls with limited visibility (e.g., protection of data against unauthorized access may be provided by passwords). Other procedures can be designed for use with manual intervention, such as review of reports printed for exception and error reporting, and reasonableness and limit checks of data. (iii) Single Transaction Update of Multiple or Data Base Computer Files: A single input to the accounting system may automatically update all records associated with the transaction (e.g., shipment of goods documents may update the sales and customers accounts receivable files as well as the inventory file). Thus, an erroneous entry in such a system may create errors in various financial accounts. (iv) Systems Generated Transactions: Certain transactions may be initiated by the Computerised Information System (CIS) itself without the need for an input document. The authorisation of such transactions may neither be supported by visible input documentation nor documented in the same way as transactions which are initiated outside the CIS (e.g., interest may be calculated and charged automatically to customers account balances on the basis of pre-authorized terms contained in a computer program). (v) Vulnerability of Data and Programme Storage Media: Large volumes of data and the computer programs used to process such data may be stored on portable or fixed storage media, such as magnetic discs and tapes. These media are vulnerable to theft, or international or accidental destruction.
What is written Representation as defined in SA580?

Written Representation refers to written or oral confirmation by management regarding the items presented in financial statements. The auditor can use the representation as audit evidence considering the following procedure: 1) Auditor should generally obtain the representation by management in writing. 2) Evaluate the representation and find out whether it is consistent with other audit evidence available. 3) Whether the person making representation on behalf of management is well informed of the matter. Following are the basic elements of Management representations: 1) It should be addressed to the auditor. 2) It should be dated as of the report date or a date prior to it. 3) It should be signed by the C.E.O or the C.F.O. 4) It should contain relevant information. Professional judgement should be used by the auditor for determining the matters on which he wishes to obtain representations. Management representation is not a substitute for other audit evidence and if contradicted by such other audit evidence, the auditor may reconsider the reliability of management representations. So, one should always keep in mind that written representation alone cannot serve as independent audit evidence but a additional evidence supporting the fact. In case management is not willing to give in writing the representations made by it during the course of audit, the auditor should prepare a letter in writing setting out his understanding of managements representations that have been made to him during the course of his audit and send it to the management with a request to acknowledge and confirm that his understanding of the representations is correct. If the management refuses to acknowledge or confirm the letter sent by the auditor, this will constitute a limitation on the scope of his examination. In such circumstances the auditor should evaluate any reliance on those representations and consider if the refusal may have any additional effect on his report.
What are the types of co-insurance?
Apr. 06, 2017