Accounting Education for Chartered Accountants

First of all I want to make you understand about what is need to give accounting education for chartered accountants. Simple answer of this question is no, there is no need to give accounting education for chartered accountant. But it is general talk that a man can forget every thing if he does not read his fields books but know this books has been converted in online journal what is new in accounting can understand chartered accountant within second, There for today is more need for c.a. to get prefect accounting education .
So today I shall take the class of C.As’. Dears be concentrate.
Are you going for audit for any company accounts?
Remember following points before auditing of companies account:-

1. When you reach the company office, at this time make your face as very serious and behave as you are officer of audit.

2. Never show, the company’s employees that you are enquiry the fraud of accounting. Because you are not deductive and your professional work is to audit not to do doubt on employees.

3. You have the power of demanding evidence of any journal entry in the books of company. So use this power.

4. If you find any fraud in the books of accounts, then do not make responsible to all accounts department. Go in the depth of this case. Never show other if you get content- fraud in the books of accounts of company. Declare after completing the audit procedure and mention effect and part of accounts in which fraud is committed before doing this take care the interests of company.

5. If you are appointed as internal auditor of any company , then keep regular audit so that when independent audit will be done , all work in books of accounts according to rules and regulations of accounting so that you feel proud on your internal auditing .

6. According to my thoughts, in the accounting field there is 90% cause of mistakes in accounts and 10% is the cause of fraud, so never see always accountant as doubted personality.

7. Accountants should also corporate with chartered accountants because both coordination and co-operation can easily complete the complicate process of auditing.

8. In my training as auditor I have visit so many companies for auditing their accounts. I always checked basic rules which applied in these accounts. So Chartered accountant must know up to date PPF , EPF , GRATUITY , income tax rates related to that company , excise rules and custom rules

9. When you are writing your audit report , explain full detail if companies accounts and financial reports are not giving true and fair view of company’s revenue and financial position

10. Before doing audit of company accounts , Chartered accountants must see also amendments in Company laws , If it is Indian company , Indian company law will apply if there is MNC then see the company laws of country where its head office is situated.