CA final audit concept capsule 33

Many students face difficulty in understanding meaning of due diligence, Investigation & forensic accounting let’s try to clearly understand the meaning of these concepts.

1) Due diligence is conducted before entering into any business transactions. It is like taking utmost care to ensure that everything is proper.

2) Investigation- there are different types of investigations, but in most of the situations investigation will be launched if there is a doubt that a fraud is happening in any area or it is confirmed that Fraud has happened and to identify who has committed fraud.

3) forensic accounting- once a fraud is committed to punish the person involved in Fraud, evidence is required to prove that he has actually committed fraud. forensic accounting helps to gather such evidences that can be used in court

forensic accounting & investigation, are done together. Investigation is used to identify fraudster & forensic accounting is used to gather evidence against fraudster.

CA final audit concept capsule 34

Do you know that banks can sell their NPA’s to other banks or to asset reconstruction companies?

No, before selling those NPS bank need to ensure certain points which are as follows

1) they should have reminded in the books of Bank as NPA for at least 2 years

2) NPA’s should be sold on without recourse basis only.

3) NPA’s should be sold on cash basis only.

4) Bank should not purchase a NPA, which it had originally sold

5) if NPA is sold at value higher than netbook value. The profit should be used to cover up shortfall on sale of other NPA’s.

6) but any loss on sale of NPS should be debited to P&L account

-CA Balakrishna Kovuru

Wish you all Happy Sri Ram Navami

CA Final Audit ABC Analysis for may 26

CA Final Audit May 2026 RTP Discussion by CA Balakrishna Kovuru
https://youtu.be/k_K_qiGRo6s

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CA Inter Audit Question Bank discussion Marathon Part 2 || Questions practice by CA Balakrishna
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CA Inter Audit Audio Revision - Chapter 1( Nature, Objective & Scope of Audit & SA - 200)