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MANDATORY AUDITOR ROTATION
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...- Audit firms wary as govt proposes to tighten rulesNew rules on auditor independence are causing worry among Indian audit firms. These changes could affect how audits are priced and limit ch...
- Is the time finally ripe for PM Modi's desi Big 4? Here are the oddsIndia is in need of foreign money. Global investors feel confident when a MNC auditors is involved in a business.
- Big four auditors bag big business from top companiesThe big fight for prestigious audits was between the Big 4 — EY, KPMG, Deloitte and PwC — as most audit committees of larger companies chos...
- 'Half of BSE 500 cos have to rotate auditors in April 2017'According to the report, companies with weak financial performance continue to wait till the last minute to hold their AGMs (Annual General...
- Big four increase their dominance in Indian audit business: Prime Database"The Big 4, between them, handled 401 assignments of the total 1,519 companies, or 26 per cent of the total," according to the Prime Databa...
- NFPIL to appoint Deloitte Haskins and Sells as a joint auditorThis marks the beginning of the compulsory audit rotation that is set to hit the Indian companies within next two years.
- Competitors say Satyam verdict will haunt PriceWaterhouseCoopersAlthough there would be no direct impact of the verdict on PwC, say industry trackers, the timing the verdict could not have been worse.
- M&A buzz in auditing as new Companies Act makes smaller firms takeover targetsFirms such as Grant Thornton and BDO, which have significant presence in India auditing space, are actively looking for buyouts and mergers...
- New Companies Act: 137 top companies need to change auditors by 2017-18The recently notified section 139 of the Companies Act 2013 makes it mandatory for audit firms to be changed after every 10 years.
- Government issues new rules for auditorsThe government on Monday issued the rules governing the audit and auditors, which also contain details of mandatory rotation of auditors.
- No relaxation: Companies have to spend on CSR initiatives, rotate auditorsThe corporate affairs ministry has rejected the industry's demand for a relaxation in the norms on mandatory CSR spending and rotation of a...
- New Companies Act 2013: Government releases first tranche of draft rulesThe government released the first set of draft rule to implement the new companies law that recently received Parliament’s nod.
- Companies Bill: Rotate audit partners not firmsThe Companies Bill proposes a national board. It proposes civil and criminal liability on erring auditors, accounts officers and directors.
- Has Satyam scandal forced Companies Bill to go overboard on regulation?The question is whether mandatory rotation of auditors, with rotation of audit partner and team would improve quality of the financial stat...
- Administrative reform and overhaul of the Companies ActIt is also vital to overhaul the functioning of administration to let companies concentrate on their core function of creating value.
- SEBI for more transparency in reportingSEBI's proposal marks baby steps in cleaning up Indian auditing practices.
- ICAI favours 3-year rotation of auditorsThe self regulatory body for auditors, Institute of Chartered Accountants of India (ICAI) is pushing for compulsory rotation of auditors by...
- Satyam fallout: Investors demand rotation of auditorsIndian institutional investors are seeking a rotation of auditors to ensure that auditors don’t act in “collusion” with the company promote...
- ICAI to make rotation of auditors mandatoryIn a major policy shift, ICAI has reconciled itself to the concept of rotation of auditors. In other words, the ICAI would soon formally de...
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