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AFFILIATE AUDIT FIRMS
Big Six tighten grip on India's audit market despite mandatory rotationDespite mandatory auditor rotation, India's largest audit firms are consolidating their dominance, auditing 66% of Nifty 500 companies. Gra...- SC seeks Centre, ED responses on plea alleging Rs 14,000 crore diversion in Noida, Yamuna Expressway housing projectsThe Supreme Court has issued notices to the Centre, Enforcement Directorate, RBI, Uttar Pradesh authorities, and several real estate firms....
- Audit firms count the cost as India looks to tighten rulesThe landscape of corporate governance in India is on the brink of transformation, with new proposals potentially establishing some of the h...
- 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...
- Big Four affiliates catch the poll fever again, line up for ICAI postsAfter a break, partners from Big Four affiliates are engaging in ICAI elections due to a more assertive ICAI, changing audit rules, and rec...
- Indian audit regulators spar on proposed change for companiesIndia's accounting regulators are clashing over a proposal to make parent company auditors responsible for consolidated financial statement...
- ICAI disciplinary panel overlooks stay to pass order against 2 partners of PwC armsDespite a Delhi High Court stay, the Institute of Chartered Accountants of India (ICAI) has published orders penalizing two PwC affiliate p...
- ICAI lens on big four affiliates over their association with global entitiesThe EY affiliate firm, SRBC & Co LLP spokesperson told ET that they will explore all issues raised in the order and explore options under t...
- Big six corner most of auditing business in Nifty-500 universeAccording to the report, of all the companies with equity shares listed on the NSE main board, the Big 6 Indian audit firms secured 637 ass...
- 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...
- Top 5 audit companies corner lion's share of mandates"Major listed companies opt for the top five auditors due to their strong reputation. The top auditors too prefer to work with the larger l...
- Big 4 affiliate firms continue to lead audit business in IndiaIn India, the Big Four firms conduct their audit business through affiliate firms. The EY group has emerged as the market leader with 153 m...
- EY India's former audit chief Sudhir Soni to join KPMGSoni used to head EY’s audit practice in India until September 2020 and was in charge of the firm’s audit affiliate SR Batliboi and Co LLP....
- Auditors shifting out of jobs at financial companies to comply with new RBI guidelinesAs per Prime Database, more than 30 auditors have already rotated out from their assignments citing the RBI guidelines and multiple auditor...
- 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 ...
- US sanctions five Indian affiliates of PricewaterhouseCoopersThe US Securities and Exchange Commission sanctioned five India-based affiliates of PwC that formerly served as independent auditors of Sat...
- 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...
- ICAI proposal may hit audit firms hereIndian audit firms, that informally work as the audit arms of big foreign accounting firms, may soon have to sever their foreign affiliatio...
- A/c firms' code to avoid clash of interestThe new code prevents an accounting firm from offering certain services to a company if an affiliate of the firm offers some services to th...
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