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AUDITING PROFESSION
Quote of the day by Denzel Washington: ‘You will fail at some point in your life. Accept it. You will lose and embarrass yourself. You will suck at something’, The Equalizer actor on embracing failureHollywood star Denzel Washington shared a powerful message about failure. He stated that setbacks are not exceptions but essential steps to...- ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portalIndividuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...
- ICAI to set up advanced forensic lab for small, medium practitionersThe Institute of Chartered Accountants of India (ICAI) is establishing an advanced forensic auditing lab in Hyderabad on a 'pay and use' mo...
- Quote of the day by Blake Lively: 'The most beautiful thing you can wear is...' Life lessons on success, human nature and challenges by American actorQuote of the day by Blake Lively highlights the message “The most beautiful thing you can wear is confidence.” This explainer shares the qu...
- ICAI to embed AI, data analytics in CA curriculumThe Institute of Chartered Accountants of India will integrate artificial intelligence and data analytics into its curriculum. This move ai...
- Who can file ITR-1 this year? Common mistakes to avoid while filing ITR-1 for AY 2026-27 on or before July 31, 2026Individuals eligible for ITR-1 filing for AY 2026-27 must file by July 31, 2026. This form is for resident individuals with income up to ₹5...
- Quote of the day by Miley Cyrus: 'When life puts you in tough situations, don't say 'Why me,' say...' Life lessons on success, self growth and challenges by television show Hannah Montana starQuote of the day by Miley Cyrus focuses on strength, self growth and facing challenges with confidence. The saying explains how people can ...
- ITR filing 2026: Don’t miss these key income tax deadlines for FY 2025–26 (AY 2026-27)Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due d...
- PwC Hong Kong to pay Evergrande shareholders HK$1 billion in compensation, SFC saysPricewaterhouseCoopers LLP will pay HK$1.3 billion in fines and compensation to settle investigations into its auditing of collapsed proper...
- From tech to tinsel town: 10 Indian actors who are graduates from IITs and NITsMany Indian actors built strong academic foundations in engineering from prestigious institutions like IITs and NITs before pursuing career...
- 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...
- New ITR forms for AY 2026-27: NRIs opting for new presumptive income scheme have to make this separate disclosure additionallyNew ITR forms for AY 2026-27 mandate Non-Resident Indians (NRIs) opting for the presumptive income scheme to separately disclose gross rece...
- Counterfeit goods, expiry tampering a 'very huge problem', says Consumer Affairs SecretaryCounterfeit products and altered expiry dates present a significant challenge. Consumer Affairs Secretary Nidhi Khare highlighted the ongoi...
- Extra teeth to tackle corporate misconductThe Companies Act now restricts NFRA to investigating misconduct by auditors. It is toothless to deal with violations that exceed this narr...
- PwC India may take up to two years to reach pre-Covid growth level: PwC India chairman“For FY 21, we will grow at the FY 20 level, give or take a couple of percentages—up or down. In the context of the year we have had and th...
- National Financial Reporting Authority to hire legal, finance expertsThe independent watchdog for auditing profession has sought applications for 10 posts of consultants and senior consultants on one-year con...
- Regulatory actions stoke fears of talent flight among audit firmsIn recent times, there has been a spate of actions against auditors, including PwC and Deloitte.
- Grant Thornton India, affiliates not to take up non-attest work from listed audit clientsThe latest decision assumes significance against the backdrop of various auditors and auditing firms coming under regulatory scanner for vi...
- How to tackle bank fraud: PNB scam should pave the way to reforming the audit profession in IndiaThe standard response would be to dismiss frauds – be it the Satyam scam, the wilful defaults of banks, or the unearthing of shell entities...
- Satyam "strong wake-up call" for auditors: Grant ThorntonGlobal consultancy firm Grant Thornton has said the auditing profession has to live with the scandal for some time.
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