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AUDITORS AND RISK OFFICERS
Kunal Shah heads to Meta; New-age IPO playbookHappy Tuesday! Kunal Shah has taken over as WhatsApp's chief, while Meta backs Cred in a major funding deal. This and more in today’s ETtec...- 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...
- The accounting trick used by companies to make a weak balance sheet look strongIn one recent case, a large investment sat comfortably under equity until the auditor read the shareholders' agreement, found a buyback cla...
- PwC finds accounting lapses in IndusInd treasury operationsA confidential PwC review of IndusInd Bank's treasury operations revealed significant accounting irregularities. Manual entries were used t...
- IndusInd Bank faces fresh whistleblower allegationsThe new complaint alleges insider trading by Samir Agarwal, former zonal head of eastern India at IndusInd Bank, manipulation of financial ...
- A $40,000 raise and the CFO seat are within reach, but one employee in his early 30s says the promotion isn't worth itA finance director at a nonprofit is contemplating declining a promotion to CFO, despite being the likely successor. He enjoys hands-on fin...
- Delhiites can now hire private fire auditors for fire safety certificatesDelhi's fire safety clearance process is set to become faster with the introduction of a third-party fire audit system. This comes after a ...
- Delhi Gymkhana Club has MF investments worth Rs 200 crore, earned more from food and parties than sports: Financial reportDelhi Gymkhana Club saw its surplus surge nearly ten times to Rs 9.5 crore in 2023-24. Restaurants, bars, and banquets drove this revenue g...
- The off-balance sheet trick didn’t die in 2019: How Indian managements still hide obligations from investorsThis is one of the most judgement-heavy corners of an Indian balance sheet and one of the easiest to stretch. This part of the series is ab...
- Backer Y Combinator drops Delve on compliance allegations; top brass allege smear campaignDelve’s removal from Y Combinator’s directory follows allegations that compliance certifications for hundreds of Delve’s clients were fabri...
- CAG to launch portal in November to make entire audit process tech drivenThe CAG is set to launch a unified digital interface in November, enabling nearly 10 lakh auditee entities to directly respond to audit que...
- RBI deputy guv flags concerns over quality of disclosures by some NBFCsRBI Deputy Governor M Rajeshwar Rao, at the Conference of Statutory Auditors and CFOs of Commercial Banks, urged better NBFC disclosures, e...
- CFOs, auditors must follow regulations in letter and spirit says RBIRBI emphasizes the importance of CFOs guarding against fraudulent transactions and misuse of internal accounts. Auditors advised to enhance...
- RBI to send strict 'zero tolerance' message to banks' bossesRBI met CFOs and auditors to enforce zero tolerance for compliance lapses. Deputy governors stressed accurate balance sheets, aggressive le...
- Public sector bank auditors ask RBI to add more agencies as work surgesAuditors have argued that increasing the manpower for inspecting bank books is important to maintain the quality of the exercise.
- India's CAG Murmu elected as External Auditor of Inter Parliamentary Union, GenevaIn recent past, he has been the External Auditor of World Food Programme, World Intellectual Property Organization, International Atomic En...
- Draft rules of Companies law provide clarity on auditor rotation: ExpertsGovernment today issued the first tranche of draft rules, covering 16 chapters of the Companies Act, 2013, which overhauls regulations that...
- Audit firms like E&Y, PwC and Protiviti Consulting ramp up hiring for internal audit and risk advisory functionsWith economic cycles increasing the risk of fraud, companies are ramping up their internal audit and risk advisory functions.
- RBI for greater role of CAs in ensuring solvency of banksReserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders.
- Time for 360 degree audit & riskIn the wake of the billion dollar con at Satyam Computer Services and the World Bank banning three domestic IT companies due to unethical b...
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