sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 What is tax deducted at source (TDS)?
 Income Tax Return filing 2018: Here are some important tips for you
 Change in Examination Venue in Thane, Zone – II, May 2018 Examinations
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling

Technology can prevent corporate fraud: PwC
July, 27th 2010

Effective use of technology for in-house audit processes could help prevent accounting fraud in a company, as it will be easier to monitor the flow of data online, says global consultant PricewaterhouseCoopers.

A new PwC report, 2010 Internal Audit State of the Productivity of the Profession Survey, said that about 48 per cent of Indian companies lack skill and knowledge of data tools used in internal audit softwares, while 18 per cent have no access to these tools.

With a predicted increase in scope and responsibility and heightened focus on risks, it is essential that internal audit functions prioritise focus, employ smarter resourcing and skill models and use technology as an enabler, PwC India Executive Director Satyavati Berera told PTI.

However, a number of internal auditors in India are not convinced that technology has a measurable benefit, with 38 per cent of the respondents to PwCs survey unable to calculate the benefit.

Of the companies that saw benefits in the use of information technology, 38 per cent said it provides greater coverage, 28 per cent talked about targeted risk testing, 18 per cent were eyeing efficiency and 17 per cent were keen on the ability for continuous monitoring, the study said.

PwC suggested that companies can initiate a pilot project for a technologyenabled audit methodology or audit lifecycle so that an assessment can be made about the opportunity for technology to enhance and streamline that process.

It is important for raising the performance bar because this years survey results indicate that auditors at present are not convinced that technology has a clear benefit, PwC said.

The role of internal audit processes hold significance in India in the aftermath of the Rs 10,000 crore accounting scam at Satyam Computer Services that was brought to light in January last year by the IT firms founder and the frauds perpetrator, B Ramalinga Raju.

The firms internal audit team head V S Prabhakar Gupta, was booked by the CBI for being party to the crime - the largest in Indias corporate history.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions