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STATUTORY CENTRAL AUDITORS
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...- SFIO widens probe into IndusInd Bank; summons audit firms over ₹2,000 crore derivatives irregularitiesThe Serious Fraud Investigation Office is investigating IndusInd Bank's derivatives portfolio. Major audit firms associated with the bank o...
- RBI proposes measures to strengthen Prepaid Payment Instruments frameworkThe Reserve Bank of India is introducing new rules for Prepaid Payment Instruments. These changes aim to boost the long-term growth of thes...
- Regulated entities told to file reports with RBI fasterThe half-yearly and quarterly review of accounts by the PSU banks would be submitted to RBI within 21 days from the date of receipt of the ...
- SRBC, part of EY India, resigns as auditor of IL&FS citing RBI regulationsThis comes on the heels of a report by the audit regulator, National Financial Reporting Authority (NFRA) which, in its audit quality revie...
- Federal Bank shareholders approve re-appointment of Shyam Srinivasan as MD & CEOThe decision was taken in the 90th Annual General Meeting of shareholders of Federal Bank which was conducted through video conferencing on...
- Guidelines on auditors to help streamline appointments: RBI“These guidelines will also help in streamlining the procedure for appointment of statutory auditors across all the regulated entities and ...
- RBI's new norms to help enhance audit quality, transparency, add value: ExpertsIn April, the Reserve Bank issued a circular putting in place the new norms for appointment of statutory central auditors and statutory aud...
- RBI brings in stricter norms for auditors of banks, NBFCsThe RBI has set criteria for audit firms regarding the number of audits they can undertake at a time, and how they should conduct them. The...
- RBI issues guidelines for appointment of statutory auditors of banks, NBFCsAs per the new norms, banks will be required to take prior approval of the RBI for appointment or reappointment of statutory auditors on an...
- 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.
- RBI revises audit norms for banks to improve risk management systems"The overall objective of the LFAR should be to identify and assess the gaps and vulnerable areas in the business operations, risk manageme...
- Bank auditors have to be more vigilantUnder the new framework, statutory auditors, in verifying whether an NPA has been correctly identified by the bank, should not confine to t...
- RBI bars SR Batliboi from audit of commercial banks for a yearRBI said the action was initiated on account of the lapses identified in a statutory audit.
- No case of pension, gratuity fund diversion at PNB: FM Arun JaitleyPNB has informed that these funds are duly audited by the bank's statutory central auditors every year, Jaitley added.
- Govt may review norms for statutory auditor appointment in PSBsPSBs are allowed to appoint statutory central auditors on an annual basis, subject to their fulfilling the eligibility norms prescribed by ...
- Public sector banks to get autonomy on appointment of auditorsThe government today said that public sector banks would get autonomy in selection and appointment Statutory Central Auditors (SCAs) from n...
- Auditors should provide early warning signals:Governor Duvvuri SubbaraoGovernor Duvvuri Subbarao today said accounting professionals should provide early warning signals so that better supervision can be ensure...
- Auditors should be paid from a pool of fundsICAI move to write a new code of ethics is welcome, but it can be effective only if it compels auditors to raise their standard of ethics a...
- ICAI blasts hasty audits of PSB booksICAI has raised apprehensions about the accuracy of audited financial statements of Allahabad Bank, Vijaya Bank and Central Bank of India. ...
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