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COMPONENT AUDITORS
ET Prime Special Series: Multibagger or IBC - Part 62: This quiet auto ancillary now earns in 3 months what it once earned in a yearThe stock has multiplied many times over in just a few years, the order book has never been bigger, and the value packed into every vehicle...- The accounting trick used by companies to make a weak balance sheet look strongIn one recent case, a large investment sat comfortably under equity until the auditor read the shareholders' agreement, found a buyback cla...
- Regulator, cos discuss price hike for some cancer drugsIndia's drug pricing authority may soon approve a price hike for vital platinum-based cancer medicines. These drugs, including carboplatin ...
- “AC bill too high even at 24°C?”: Expert reveals how to run air conditioner with up to 30% lower power consumptionEnergy auditor says AC electricity bills can be reduced by up to 30% through a combination of simple habits, low-cost upgrades, and regular...
- Remember GoPro, the king of action cameras? The once-$11 billion giant is now fighting just to stay aliveGoPro bankruptcy risk: Once an $11 billion market cap giant, GoPro now faces an uncertain future. Its auditor raised "substantial doubt" ab...
- Fiscally disciplined states to get priority access to ₹3,000 crore SASCI incentive poolStates that manage their finances prudently will receive priority for a ₹3,000 cr incentive fund. The Centre's new scheme rewards states fo...
- Apple withholds data in India antitrust case, CCI sets final hearingIndia's antitrust watchdog is moving quickly to decide penalties for Apple. The Competition Commission of India found Apple abused its domi...
- The off-balance sheet trick didn’t die in 2019: How Indian managements still hide obligations from investorsThis is one of the most judgement-heavy corners of an Indian balance sheet and one of the easiest to stretch. This part of the series is ab...
- The most dangerous number on an Indian balance sheet after debt – and how it is manipulatedDifferent years. Different companies. Different accounting tricks. One common story – an effort to show financial numbers which hide the tr...
- YSRCP flags 'discrepancies' in Andhra borrowings dataAndhra Pradesh opposition leader Botcha Satyanarayana has accused the state government of misleading the Legislative Council. He claims inc...
- Failure of Internal Financial Controls: Management’s accounting manipulation, and fraud perpetrationInternal Financial Controls are far more than a compliance formality. They often separate reliable accounts from misleading numbers. This s...
- NFRA may take up revision of 35 audit standards next weekThe National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI) are headed for another clash. ...
- NFRA circular warns against selective application of audit standardsThe circular asks auditors to follow both the Standard on Auditing (SA) 600 and the Companies Act 2013 in letter and spirit, on top of othe...
- NFRA's plan to revise auditing std SA 600 'surprising'; need more time for consultations: ICAIICAI has requested NFRA to pause proposed changes to auditing standard SA 600 for group audits, citing concerns over the impact on small an...
- Fears over proposed revamp of audit standards misplaced: NFRAThe National Financial Reporting Authority (NFRA) has dismissed concerns that revamping domestic audit standards to align with global norms...
- ICAI council to weigh proposed revamp of audit in sync with global standardsThe National Financial Reporting Authority (NFRA) has firmed up draft norms to overhaul the extant Standard on Auditing (SA) 600. The revis...
- NFRA and ICAI at odds over plan to sync audits with global normsThe National Financial Reporting Authority and the Institute of Chartered Accountants of India are at odds over proposed changes to domesti...
- KPMG Mauritius: Can SEBI's rules be imposed on auditors of overseas operations?KPMG Mauritius had last month resigned as the auditor of UPL's Mauritius arm. Shares of the Mumbai-based company slumped as much as 9.40% t...
- Price Waterhouse quits as statutory auditor of GVK Power; cite non-cooperationThe auditors alleged that despite several communications to GVK, the group did not provide them with necessary information.
- Soon, parents will be accountable for audit of their armsParent companies may have to keep a watch on the audit process of subsidiaries.
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