A seminar called “Internal Audit and Detection of Errors and Frauds- Its Essence and Relevance in Auditing” took place on June 26, 2023, from 11:30 a.m. to 12:00 p.m. in the Seminar Hall. The purpose of the seminar was to help students understand the importance of Internal Audit and detecting errors and frauds in auditing. CA Nagabhushan Pai led the session as the resource person.
During the seminar, CA. Nagabhushan Pai talked about the evolution of auditing and why it is important. He explained that Internal Audit plays a crucial role in detecting errors and frauds. The session was made interesting with practical examples. He also discussed the use of Computer-assisted audit techniques (CAATs) for internal and management audits, as well as the use of test data and test packs in auditing. He briefly introduced the concept of Forensic Auditing. CA.Nagabhushan Pai also talked about recent audit scandals like the Satyam Computers Scam. Students had the opportunity to ask questions, such as how the implementation of GST has affected auditors and whether a separate auditor is appointed for GST audit. The speaker answered all the questions. A total of 105 students actively participated in the session.
Report By,Mrs. Laxmi Hegde
Mr. Hardik P. Chauhan
