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CERSAI or Central Registry of Securitisation Asset Reconstruction and Security Interest of India, has been established as a company under section 8 of the Companies Act, 2013 by the Government of India. CERSAI was formed to identify and check fraudulent activity in lending transactions against equitable mortgages. In other words, the CRESAI was established to discourage and prevent the practice of taking out various loans from several banks using the same asset or property. Any bank, financial institution or an individual can access the registration platform of CERSAI for a certain fee. By registering themselves with CERSAI, the lenders can pull up the information on an asset or property to validate that whether any previous security interest has been created by a different lender ( banks, financial institutions etc.) in the past. Usually, this is done before the sanction of a loan to a borrower. This is exceptionally beneficial for the genuine buyers of the property, as CERSAI permits them to pull up all the relevant information from the registry to check whether the property in which they are interested in free of any liability that may have been created by another lender.
A sale of Rs. 25,000 to A was entered as a sale to B. This is an example of _
________ the audit risks _________ the materiality and _______ the audit effort
Internal check is carried on by
Which of the following deductions is/are available as deduction from income under both the old and new tax regime of Income Tax?
Which auditing standard outlines the auditor's responsibilities relating to fraud in an audit of financial statements?
Suppose an NPO receives a donation of $10,000 from a donor. The entry to record this transaction would be as follows?
………………. Is a kind of audit is conducted between two annual audits
Which of the following statements is not true?
The scope of internal audit is decided by the :
Process of verifying the documentary evidences of transactions are known as:
