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Bill to amend laws governing companies and LLPs introduced in Lok SabhaAn innovative proposal is on the table aimed at transforming business operations in India. This bill introduces simplified guidelines for s...- 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...
- Indian audit regulators spar on proposed change for companiesIndia's accounting regulators are clashing over a proposal to make parent company auditors responsible for consolidated financial statement...
- Top audit firms concerned after hefty penalty on BSR & AssociatesThe NFRA imposed a ₹10 crore fine and banned BSR & Associates LLP partners for audit lapses in Coffee Day Enterprises. The firm had depende...
- Letters sent to affiliates of Deloitte, EY, KPMG, Grant Thornton, and two CA firms based in Ahmedabad; Adani Group says it complies with relevant accounting standards & lawsThe National Financial Reporting Authority (NFRA) has requested audit affiliates of Deloitte, EY, KPMG, Grant Thornton, and two Ahmedabad-b...
- Land acquisition, flyovers and tunnels raised Bharatmala cost: OfficialThe cost of highway projects under India's Bharatmala programme has risen above initial estimates due to the construction of wider highways...
- Supreme Court allows NCLT to act against IL&FS auditorsThe government had moved a petition in the NCLT in 2019 to bar IL&FS Financial Services' former auditors - Deloitte Haskin and Sells (DHS L...
- Most companies stick with auditor after 5-year termThe Companies Act 2013 says that a firm of auditors cannot be appointed as auditors for more than two terms of five years, according to rul...
- Audit partners seek risk premium, more salaryThey are seeking risk premium in the form of hikes and special bonuses, following actions Sebi and others.
- NFRA seeks client details from auditorsThe audit regulator seeks info on audit processes, number of clients, non-audit work done for them and fees.
- View: Elementary, my dear auditorsIt's time statutory audit evolved once more to include elements of forensic audit.
- 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.
- PNB scam raises questions over safety systems of banksWhile a private sector bank would have one or two auditors, the number runs into hundreds for state-run lenders.
- $1.5 bn poverty alleviation funds unspent in China: AuditorNational Audit Office released its Q1 review on the use of fiscal funds allocated to major social projects such as poverty relief, urban se...
- Discoms trying to scuttle CAG audit: AAPAAP also demanded that Centre should direct the authorities to warn the discoms that their "attempts to scuttle the CAG audit will result i...
- CAG all set to audit three discoms in DelhiA top CAG official expressed hope that with the Arvind Kejriwal regime willing to ask the federal auditor to examine the books of these com...
- 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.
- New CAG Shashi Kant Sharma takes over, Prashant Bhushan has a problemThe government on Tuesday formally appointed Defence Secretary and veteran bureaucrat Shashi Kant Sharma as the next Comptroller & Auditor ...
- India Inc against rotation of auditors every few yearsIndia Inc is against rotation of auditors every few years. At a closed-door meeting with Sebi chairman CB Bhave, nearly 45 top honchos expr...
- $ 3.6 bn misused by Chinese ministries in 2006Several ministries of the Chinese government, including the top planning agency and the Foreign Ministry, misused a whopping $ 3.6 billion ...
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