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DOMESTIC AUDIT STANDARDS
AI risks are here, time for tough rules: Anthropic CEO Dario AmodeiAs artificial intelligence grows more powerful, governments must move beyond transparency measures and introduce stronger regulations to ad...- India makes a quantum leap: India's first quantum-safe algorithm gets certified: Fortytwo Labs earns C-SAFE recognition from DSCIIndia has achieved a significant milestone with the independent evaluation and national recognition of its first domestically built quantum...
- 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...
- HDFC Bank denies allegations of disguising interest payoutHDFC Bank stands resolutely against accusations of misconduct as an investigative report alleges that it masked differential interest payme...
- Mythos: A challenge for the Indian banking systemClaude Mythos, a cutting-edge AI tool, has unearthed significant weaknesses in cybersecurity systems. In response, Indian authorities are s...
- 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.
- GIFT City vs Dubai vs Singapore: What you need to know while choosing your investment hubIndian wealth is increasingly seeking global anchors, with GIFT City, Dubai's DIFC and Singapore emerging as key contenders. Each hub offer...
- France sells 129 tonnes of gold held in US for $15 billion profit! Here’s how it happenedBanque de France shifted 129 tonnes of gold reserves from New York to Paris by selling older non-standard bars held at the Federal Reserve ...
- Gold: The correction was the repositioning, not the end of the trendGold remains a vital liquidity source even with price drops. Central banks and individuals are selling gold to ease financial strains. In I...
- ICAI looks to set a brand new standardThe Institute of Chartered Accountants of India plans to submit its own revised auditing standard to the government. This move could reigni...
- ICAI can't notify audit quality norms, says SG Tushar MehtaThe ICAI is not authorized to issue standards on quality management or amend audit norms for accountancy firms. This responsibility lies wi...
- 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....
- It's collective responsibility to improve corporate governance, follow global standards: NFRA ChiefAjay Bhushan Pandey highlighted the need for sustained corporate governance reforms. Company management, independent directors and audit co...
- 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...
- NFRA circular warns against selective application of audit standardsThe circular asks auditors to follow both the Standard on Auditing (SA) 600 and the Companies Act 2013 in letter and spirit, on top of othe...
- Fears over proposed revamp of audit standards misplaced: NFRAThe National Financial Reporting Authority (NFRA) has dismissed concerns that revamping domestic audit standards to align with global norms...
- ICAI council to weigh proposed revamp of audit in sync with global standardsThe National Financial Reporting Authority (NFRA) has firmed up draft norms to overhaul the extant Standard on Auditing (SA) 600. The revis...
- NFRA and ICAI at odds over plan to sync audits with global normsThe National Financial Reporting Authority and the Institute of Chartered Accountants of India are at odds over proposed changes to domesti...
- National Financial Reporting Authority planning audit advisoriesThis, Pandey said, is aimed at bringing more awareness among companies and chartered accountants about the regulatory requirements of audit...
- ICAI wants standard norms for internal auditing by companiesCompanies want internal audits to be management functions of companies and not to be bound by regulation.
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