audit firms

Accounting regulator ICAI has accused state and central governments, and PSUs, of deliberately favouring chartered accountant companies having affiliations with multinational audit firms. ICAi accused that In certain cases, public sector undertakings, the government departments, central and state governments advertise for various professional services, wherein the basic eligibility requirement tends to favour multinational network accounting firms or other corporate ent.. Full Article

Many many congratulations to all of those who have cleared CA IPCC this time .This is a time of great celebration and hope everyone celebrating his grand success in this exam. Beyond this there is one more thing which you may missed out while being b Full Article

Punjab National Bank invites applications on the undernoted prescribed format from practicing firms of Chartered Accountants of India who are willing to have their Firms empanel ed as Concurrent/Revenue/Treasury Auditor in the Bank. Full Article

Audit firms may be asked to financially compensate investors for losses resulting from their lapses, with the government planning to strengthen the mechanism for fixing responsibility for corporate frauds and protecting investors from their ill-effects. To make this feasible, an audit firm would be held accountable for its actions regardless of whether the firm itself or its affiliate was the official auditor, Full Article

The ministry of company affairs said that it was yet to receive a detailed report from the Institute of Chartered Accountants of India on the audit and accounting major PricewaterhouseCoopers, which was involved in an accounting goof-up in the Rs 10,000-crore (Rs 100-billion) Satyam scandal. Full Article

Changes in regulations like the International Financial Reporting Standards (IFRS), Goods and Services Tax (GST), Direct Taxes Code and the new Companies Act are likely to spur business for consulting and audit firms. Full Article

The issue relating to the internal assignments allotted to the audit firms at the time of their appointment as statutory auditors has been examined afresh and it has been decided as under: “Audit firms should not undertake statutory audit assignment while they are associated with internal assignments in the bank during the same year. In case the firms are associated with internal assignment it should be ensured that they relinquish the internal assignment before acce.. Full Article

# Allahabad Bank, Zonal Office, Hyderabad invites applications / Biodata in the format as per Annexure-A, from practicing firms of Chartered Accountants of India having an office in the state of Andhra Pradesh and are willing to have their firm empanelled as Stock Auditor in the Bank. The panel of auditors maintained earlier years since expired and will not be used for appointment of internal stock audit jobs and are required to apply afresh. The Bio-data should be su.. Full Article