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AUDIT QUALITY STANDARDS
Examination system in crisis: The urgent need to shift focus from cost to capabilityRecent examination fiascos highlight a critical need to reform India's testing system. Current procurement practices favor low costs over e...
Balance sheet trick: Decoding another manipulation, and how to spot a bad apple in your portfolio before othersThere is one line in the accounts that most investors skip because it looks routine. But behind that line can sit disputed demands, old los...
Credit guarantee scheme for MFIs still stuck in low gearBanks have received an aggregate loan demand of Rs 10,000-12,500 crore under the scheme, according to people familiar with the matter. Whil...
The FIFA World Cup transit test: Can trains and buses win over North America's car-loving fans?The 2026 FIFA World Cup in North America presents a major opportunity for public transport. Operators aim to attract fans to trains and bus...
Over 60% of pharma MSMEs yet to comply with updated manufacturing normsPharma industry officials say the revised Schedule M regulations could require Rs 10-15 crore per facility in upgrades, while talent shorta...
Supreme Court pulls up Centre over food safety failures, seeks auditThe Supreme Court has directed the Centre and the Food Safety and Standards Authority of India to explain why a nationwide performance audi...
Right to trauma care of citizens integral part of right to life, Supreme Court saysThe Supreme Court has asked all states and Union Territories to launch a unified helpline, 112, for emergency responses. A functional syste...
US Market: Fed, FDIC push leaner, risk-focused bank supervisionUS financial regulators are enacting significant changes to bank oversight, moving away from detailed paperwork towards focusing on "materi...
Funds are won or lost on operational rigour, not just deal-making: Artha Group COOAs venture capital matures beyond the era of easy money and momentum investing, operational discipline is becoming as important as deal-mak...
Forget fake invoices. The real risk is the assumptions made in the balance sheet to hide lossesMost accounting risks make noise. The biggest one on the Indian balance sheet doesn't. It hides inside growth assumptions, discount rates, ...
Natural diamonds, real change: Driving sustainable impact in IndiaThe diamond industry is prioritizing sustainability, with India leading the charge by integrating a fifth 'C' – conscience – alongside trad...
Profit on paper, loss in reality: How a routine accounting tool is used to deceive and take investors for a rideAmortisation is a number most investors skip, but it can shape reported profit. On the surface, it looks routine: A company spreads the cos...
Supervision must look beyond formal compliance, says RBI Deputy Guv Swaminathan JRBI Deputy Governor Swaminathan J. warns that weak oversight in banking can lead to hidden risks. He stresses that supervision must go beyo...
Compliance squeeze, global scrutiny redefine India’s $30 billion pharma export playbookAs global markets prioritise quality and regulatory trust, India’s pharma sector is recalibrating beyond its traditional cost advantage.
SC seeks response on Rs 375 crore NICSI tender dispute over OneXtel empanelmentThe Supreme Court is reviewing a dispute over a government tender for message gateway services. Enterprise firm Karix Mobile claims its riv...
Shake your proteins before you have 'emIn India, the protein gap is a growing concern, leading to a surge in the popularity of 'protein-washed' snacks, which are often laden with...
India may soon notify new audit standards after prolonged regulatory tussleIndia's corporate affairs ministry is set to announce new audit rules. These changes will bring Indian standards in line with global practi...
ICAI defers adoption of new quality management standards by accountancy firmsThe Institute of Chartered Accountants of India has postponed its new quality management standards. These standards were set to be implemen...
Issuing audit quality standards within our remit: ICAI writes to MCA amid ongoing tussle with NFRAThe ICAI has informed the corporate affairs ministry that it has the authority to issue quality management standards for accountancy firms....
ICAI issues standard on quality management for CA firmsThe ICAI has issued two new quality management standards (SQM 1 and 2) for audit firms, focusing on quality management systems and engageme...