Budget 2016 – A Summary by RAMA!


Hon. Finance Minister Mr.Arun Jaitley presented a resilient India Budget 2016 which spells the ‘Transformative Agenda’ for the India Economy identifying nine key pillars for the GDP growth. Team RAMA has presented an overall overview of the Union Budget – 2016, summarised key policies changes and Direct & Indirect taxes proposals in brief for easy understanding and quick reference. Hope you will find it useful…

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Internal Financial Controls (IFC)

Based on RAMA’s experience as Internal Auditors of large and mid-size corporates and assisting organizations in effectively implementing Internal Financial Controls over Financial Reporting (ICFR), we believe that for implementing ICFR the underlying risks should be identified for material (significant) accounts. For mitigating / reducing the possibility of occurrence and impact of the identified risks, controls should be designed and a testing strategy should be developed for ensuring that the controls are operating.

A broad structure for understanding and implementing ICFR…

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