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EY AUDIT INDEPENDENCE
ICAI expands mandatory applicability of audit quality evaluation matrixThe Institute of Chartered Accountants of India is expanding its audit quality model. This now includes firms auditing subsidiaries of list...- 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...
- 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...
- NFRA inspection reports of 10 audit firms by March-endIndia's financial watchdog, NFRA, has inspected ten major audit firms. These include EY, KPMG, Deloitte, PwC, Grant Thornton, and BDO. Find...
- NFRA inspection report finds lapses in SRBC’s audit processThe NFRA inspection report on SRBC & Co LLP highlights audit quality issues at the Ernst & Young network firm, such as auditor independence...
- Top auditors stop offering non-audit work to clientsTop audit firms in India, including KPMG affiliate BSR & Affiliates and BDO affiliate MSKA & Associates, have stopped offering non-audit se...
- NFRA finds certain lapses in audit quality of network entities of Big 4The inspections of the audit firms were started in December last year and covered various aspects, including review of firm-wide quality co...
- EY India's advisory business will log billion dollars in revenue even after split: Rajiv Memani, Chairman and Managing Partner, EY IndiaIn an exclusive chat with Vinod Mahanta, Memani gets down to the brass tacks on the impending split at EY India even as the professional se...
- EY’s management committee to split firm’s audit and consulting revenue streamsEY Chairman & CEO Carmine de Sibio’s webcast set off a flurry of calls among EY partners in India, where the entity has robust presence acr...
- EY employees seek clarity amid reports of splitFollowing the development, which caught even its senior-most partners by surprise, a few global leaders assured staff that their interests ...
- SRBC, part of EY India, resigns as auditor of IL&FS citing RBI regulationsThis comes on the heels of a report by the audit regulator, National Financial Reporting Authority (NFRA) which, in its audit quality revie...
- NFRA pulls up SRBC & Co for ITNL auditThe report said that the audit firm has to be independent and has violated several regulations mandated for the audit firms. NFRA, part of ...
- Financial regulatory authority cites social media posts to blow a hole in the defence put up by the Big Four in IL&FS caseNational Financial Regulatory Authority (NFRA) in a recent report on IL&FS Financial Services Ltd (IFIN) even posted screenshots of social ...
- Government moots steps to enhance audit independence, accountabilityThe paper has suggestions for curbing five "threats" for the independence of auditors. The threats pertain to self-interest, self-review, a...
- Government wants CCI probe on Big 4 auditorsThe govt wants its competition watchdog CCI to probe into issues of cartilisation and thwarting competition.
- Ernst & Young probes cashback fraud at Paytm MallThe Startup staff, in collusion with vendors, created fake orders to siphon off funds.
- Allow audit firms to offer legal services: MCA panelAn expert panel constituted by the ministry of corporate affairs (MCA) has recommended that Advocates Act be amended to allow audit firms t...
- Who will audit the auditors asks IiAS in a research reportIndian companies are required to choose a new auditor by March end as part of audit rotation. The companies are required to form audit comm...
- Bain Capital sues EY over $60 million loss in Lilliput KidswearBain alleges that it invested around $60 million in Lilliput in May 2010 for a non-controlling 30.99% stake, based on false financial state...
- No client should exceed 10% biz of audit firm: PanelNo single corporate client or group should account for more than a tenth of the total revenues of any audit firm and its associates, a comm...
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