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BDO COMPLIANCE ISSUES
SIR protest: SC slams West Bengal govt over gherao of judicial officials, terms incident calculatedJudicial officers were held hostage in Malda, West Bengal. The Supreme Court has taken serious note of this incident. The court has sought ...- NFRA flags quality control gaps in six audit firmsThe National Financial Reporting Authority (NFRA) has released inspection reports on six major audit firms, including Deloitte Haskins & Se...
- EC removes West Bengal Chief Secretary Chakraborty, Home Secretary Meena after announcing poll datesThe Election Commission of India has removed West Bengal's Chief Secretary Nandini Chakraborty and Home Secretary Jagdeesh Prasad Meena. Ne...
- NFRA report flags audit lapses at firms linked to PwC, EY, KPMG, BDOIndia's financial watchdog, NFRA, has released inspection reports on major audit firms. These reports highlight issues with audit independe...
- Bengal files FIRs against 4 officials on ECI directive; Chief secy sends compliance report to election panelWest Bengal has filed FIRs against four election officials as per ECI orders. A Block Development Officer was also suspended. Chief Ministe...
- Bengal Chief Secretary appears before Election Commission over compliance lapsesWest Bengal Chief Secretary Nandini Chakraborty appeared before the Election Commission of India in New Delhi following summons over non-co...
- ECI orders suspension of Basirhat Officer over ‘serious lapses’ in electoral hearingsThe Election Commission of India (ECI) has flagged “serious lapses” in the electoral hearing process at Basirhat, West Bengal, and directed...
- BoI declares RCom, Anil Ambani loan accounts fraudulentBank of India has declared Reliance Communications, its subsidiary Reliance Telecom, and Anil Ambani's loan accounts fraudulent, totaling ₹...
- Budget 2025 could start implementing Direct tax code by cutting tax rates, removing exemptions, lay out road mapDirect Tax code Uion Budget 2025: The news report indicates that the government can bring a new income tax bill in the Budget 2025 session ...
- NFRA detects shortcomings in MSKA’s audit of related party transactionsNFRA uncovered significant deficiencies in the audit practices of MSKA & Associates, particularly in related party transactions. The audit ...
- Online gaming firms boost legal firepower to tackle regulatory mazeOnline gaming cos are expanding their legal teams to address the evolving regulatory landscape in India. The growth is driven by new laws l...
- GST amnesty scheme: Why taxpayers need an opportunity to correct inadvertent errorsIn the initial years, people struggled in understanding the impact of the new regime on their businesses, getting their internal systems re...
- Dividend or share buyback: What works better in terms of tax outgo?While dividend is the most common method, of late share buyback has also become a popular mode of distributing surplus to the shareholders.
- Wirecard CEO Markus Braun quits as search for missing billions hits dead end in AsiaMarkus Braun, who built the German company into one of the hottest investments in Europe, leaves Wirecard facing a looming cash crunch amid...
- Devolution of power to sarpanchs ineffective in practice: CAGOn 19 April 2020, Odisha announced it would be delegating powers of district collectors to sarpanchs of Gram Panchayats. Under Section 51 o...
- Covid-driven tax reliefs to cost government 2-3% of GDPExperts say that Covid-driven tax relief may cost government 2 to 3 per cent of the GDP.
- Auditors feel companies may have to state coronavirus impact in accountsFinancial statements for Indian and multinational companies may have to reflect the impact of the coronavirus-related shutdown and disrupti...
- Mazars to enter consulting, advisory business in IndiaAs per the Indian regulations, multinationals cannot directly audit Indian companies. So, they operate in the country through affiliate fir...
- Consultancies wake up to challenges of implementing GST at their own firmsWhile these consultancies would be paid fees for such contracts, it would be extremely difficult to determine which state must be paid what...
- Seven partners with 80 of their members left BDO to pursue their own practiceThis comes at a time when auditing and taxation in the country is heating up and many firms are looking at mergers and acquisitions to incr...
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