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AUDIT REPORT MARCH 2023
Treat internal financial controls as business necessity, not as compliance burden: ICAI officialStrong internal financial controls are crucial for businesses, not just for compliance, according to the ICAI President. He emphasized that...- Sold, or just shipped? How sales figures can be manipulated – and how you can spot itGoods left the warehouse. The invoice went out. So it must be a sale, right? Not always. Under the rules, a sale counts only when the custo...
- ICAI to help Tirupati temple enhance accounting systemIndia's wealthiest religious trust, Tirumala Tirupati Devasthanams, is partnering with the Institute of Chartered Accountants of India (ICA...
- Apple supplier Tata Electronics tightens internal controls after data breachTata Electronics is investigating a massive data leak on the dark web, reportedly exposing thousands of secret client files from Apple and ...
- Make Indian auditors less of an oddityIndia's ambition for a globally competitive audit sector faces hurdles, with local firms struggling to match multinational rivals. While pr...
- EY, KPMG, Deloitte among top 10 auditors by number of companies audited in FY26India’s audit market in FY26 remained dominated by large firms, with EY, KPMG and Deloitte leading by audit volume and market capitalisatio...
- Kolkata godown collapse: WB minister Agnimitra Paul announces audit of new constructions, vows strict actionWest Bengal Minister Agnimitra Paul on Thursday said that all new construction sites under the Kolkata Municipal Corporation (KMC) limits w...
- 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...
- Will the ITR filing deadline for AY 2026-27 be extended? Here's what taxpayers need to knowTaxpayers can breathe easy as the Income Tax Return (ITR) filing deadline for AY 2026-27 is unlikely to be extended. Unlike last year's tec...
- India, Israel sign MoU to strengthen cooperation in public sector auditingIndia's Comptroller and Auditor General and Israel's Supreme Audit Institution have inked an MoU to boost public sector auditing cooperatio...
- Telegram vs MeitY: From takedown orders to temporary ban, a look at the history of clashes with the social media platformMeitY’s most severe platform-wide intervention latest flashpoint in long history of clashes between Telegram and authorities in India.
- Gold loans surge in Retail Mix; NBFCs outpace banks in market share gains: Experian reportA report by credit bureau Experian shows that gold loans have become a major driver of India’s retail credit growth, with their share in th...
- CAG, Israel's apex audit body ink info exchange pactIndia's CAG and Israel's State Comptroller have inked a pact to boost public sector auditing through knowledge sharing and best practices. ...
- As AI adoption grows, token consumption comes under close scrutinyBusinesses are facing hefty AI bills, prompting a shift from simply counting AI tokens to scrutinising their actual value. Companies are no...
- US opens probe into fatal Tesla crash into Texas homeA US agency is probing a fatal Tesla crash in Texas where an elderly woman died. The vehicle reportedly used advanced driver assistance sys...
- 12 years, countless auditions, repeated rejections: Meet Mumbai actor who once survived with only Rs 100 in his pocket. Now, he is winning hearts with his performance in a hit crime thriller. ‘The dream is worth chasing’Akash Makhija's chilling portrayal of Babu in 'Raakh' has captivated audiences, but his path to stardom was arduous. Facing years of reject...
- PFRDA tightens NPS audit rules: Pension body orders regular audit checks for PoP service providersThe Pension Fund Regulatory and Development Authority now requires Points of Presence offering National Pension System services to undergo ...
- RBI clears three-month extension for HDFC Bank interim chairman Keki MistryThe Reserve Bank of India has granted a three-month extension for Keki Mistry as interim Part-time Chairman of HDFC Bank. This allows the b...
- PSU banks see sharp jump in green deposits FY26; deploy funds for clean transport, renewable energyIndian state-owned banks witnessed a significant rise in green deposits during FY26. This growth reflects growing depositor interest in sus...
- CAG flags shortcomings at Social Audit Unit of Assam; suggests corrective measuresAssam's Social Audit Unit is struggling with significant operational and governance issues. A CAG report reveals its registration expired f...
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