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VINAYAK PADWAL
Fearing frauds, auditors hire forensic investigatorsDuring the Covid pandemic and on and off lockdowns, auditors are finding it increasingly difficult to verify bank statements, third-party s...- RBI brings in stricter norms for auditors of banks, NBFCsThe RBI has set criteria for audit firms regarding the number of audits they can undertake at a time, and how they should conduct them. The...
- RBI issues guidelines for appointment of statutory auditors of banks, NBFCsAs per the new norms, banks will be required to take prior approval of the RBI for appointment or reappointment of statutory auditors on an...
- Restrained by COVID-19: Auditors ask management to confirm certain sales, debt, physical verification of inventoryAuditors are raising questions around the authenticity of sales, inventory and debtors in the financials of several companies, say insiders...
- Renegotiate loan terms or they may turn into ‘current liabilities’, auditors warn companiesIf the loans are classified as “current liabilities” in the year-end financials, it will impact the company’s liability-to-asset ratio, hin...
- More companies seek legal views as auditor qualifications riseOpinions sought on areas where the audit firms are not safisfied with management stand; change in approach follows regulatory actions in th...
- Senior partners, executives exiting BDO to join MazarsBoth firms are making differing claims on the number of people moving given that the process is underway.
- A slew of systemic and cultural issues that threw top auditors off balanceEach day as clamour grows for strict action against auditors, the profession finds itself at a crossroads.
- Big 4 audit companies may suffer revenue hit due to conflict of interest normsCommittee of experts seeks curbs on kind of services foreign firms can offer audit clients.
- Jolted by Sebi move, auditors act to get the house in orderThe implication of the Sebi order could be bigger for audit-heavy local firms.
- FDI policy lacuna worries auditorsMany foreign private equity firms and multinationals tend to put caveats in their contracts where their India practice is mandated to choos...
- Indian audit firms perk up as PM Narendra Modi talks of creating desi Big 4Indian auditors accuse the big 4 MNCs of circumventing laws to grow their businesses. They have long been demanding a level-playing field.
- Compulsory rotation, likely direct entry of foreign MNCs spell bad times for Indian auditorsThe growing gap between the MAFs and Indian firms will potentially widen further when the audit rotation and direct entry of MNC audit firm...
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