https://www.taxtmi.com/news?id=24603 The address stresses audit as an essential assurance mechanism for financial stability and public accountability, highlighting audit independence, auditor competence and ethics as critical to resolving agency problems and protecting stakeholder interests. It identifies the CAG's role in public sector financial, compliance and performance audits, outlines RBI's supervisory concerns that auditors must report material issues and rigorously test management judgements (including credit loss models, related party transactions and IT obfuscated transactions), and advocates adoption of technological audit tools alongside sustained professional judgment and strengthened governance frameworks. en-us Mon, 25 Oct 2021 14:20:17 +0530 Mon, 25 Oct 2021 14:20:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24603 The address stresses audit as an essential assurance mechanism for financial stability and public accountability, highlighting audit independence, auditor competence and ethics as critical to resolving agency problems and protecting stakeholder interests. It identifies the CAG's role in public sector financial, compliance and performance audits, outlines RBI's supervisory concerns that auditors must report material issues and rigorously test management judgements (including credit loss models, related party transactions and IT obfuscated transactions), and advocates adoption of technological audit tools alongside sustained professional judgment and strengthened governance frameworks. News - Mon, 25 Oct 2021 14:20:17 +0530 https://www.taxtmi.com/news?id=24603