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STAKEHOLDER CONCERNS ICAI
Parliamentary Panel to hold first hearing on CA Amendment Bill on January 12The amendment was brought in following serious audit lapses in cases like IL&FS and DHFL in the recent past and to ensure greater accountab...
ICAI Prez asks members to promote, adopt Hindi in their work; elicits criticism"Realising the power of our mother tongue Hindi, ICAI is trying to incorporate more use of Hindi into its work culture," he said in his mon...
ICAI factors in new accounting challenges as auditors prepare for life after CovidThe biggest issue relates to the going concern concept. Section 134(5) of the Companies Act requires directors to state that the annual acc...
UDIN: The tool to plug bank frauds through forged documentsIn October 2018, CVC issued the analysis of top 100 bank frauds examined by them, wherein forgery of documents was pre-dominant in most of ...
From January, certificates issued by CAs to have unique identification numbersThe ICAI, which has more than 2.92 lakh members, on Tuesday said it has introduced the Unique Document Identification Number (UDIN) for the...
NFRA needed to constantly review audit quality of companies: Injeti Srinivas, Secretary, Corporate AffairsInjeti Srinivas spoke about the government’s push for better corporate governance through the National Financial Reporting Authority (NFRA)...
PNB fraud: ICAI to look at auditors' role, sets up panel to study systemic issuesAccording to an official, the institute would be looking at the role of auditors in these cases to ascertain whether there have been any vi...
Election Commission, ICAI to help make political parties' financials more transparentThe Election Commission will work with the chartered accountants' apex body ICAI to make the financial statements of political parties more...
Vijay Mallya-USL row: ICAI seeks details from Sebi on auditors' roleICAI has sought details from markets watchdog Sebi on role of auditors in the alleged financial irregularities at United Spirits, where Cha...
ICAI seek more changes to Companies Act 2013 for ease in doing businessICAI President Manoj Fadnis said some concerns with respect to related party transactions norms are yet to be addressed.
Don't rush into setting up NFRA: ICAIICAI has sought further deliberations with various stakeholders before setting up the National Financial Reporting Authority.
Government looking at criteria for fraud reporting by auditorsUnder the Companies Act, 2013, auditors have the responsibility of reporting frauds, at entities being audited by them.
Accountants express concern over new cost audit rulesThe ICAI has written to Corporate Affairs Minister Arun Jaitley, seeking modification in the new cost audit rules.
Cost accountants say cost audit draft rules to hurt economyICAI said the proposed rules to relax the cost audit mechanism for companies would adversely impact the economy and the corporate sector.
Latest draft rules issued by ministry outrage cost auditorsICAI has expressed deep concern and vowed to "leave no stone unturned" in seeking to make sure the draft isn't implemented.
- Satyam’s moment of truth
It's time for immediate government intervention in Satyam.
- India Inc to adopt global accounting standards
This will make India Inc easier to get large valuation M&A deals executed without the court breathing down their necks.