internal auditors

RailTel Corporation of India Ltd invites offers for Appointment of Internal Auditors for its Corporate Office at Delhi and its branch offices at Mumbai, Kolkata, Hyderabad and Delhi from firms of Chartered Accountants empanelled with Comptroller and Auditor General of India for the second half year of F.Y.2011-2012 and further extendable to 2 year based on one packet system in stamped sealed covers Full Article

The accounting regulator is finally swinging into action in the multiple demat account scam that was detected over 3 years ago. The Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI) has found the internal auditors – Haribhakti & Co. guilty of negligence while checking the books of brokerage firm - Karvy. ICAI's Disciplinary Committee has found one audit partner and audit manager of Haribhakti & Co. guilty. Full Article

The Institute of Chartered Accountants of India (ICAI) has revised its internal audit standards to strengthen internal audit practices in the country. The current revision, approved by the ICAI council last week, addresses issues such as effects of laws and regulations in conducting internal audit, responsibility of management for compliance with laws and regulations, responsibility of internal auditor and internal audit procedures. Full Article

Quarterly cost audit by internal auditors in the listed companies should be explored in consultation with the market regulator SEBI to improve corporate governance, an expert group appointed by Corporate Affairs Ministry has suggested. ”The possibility of introducing quarterly limited review of cost details, in case of listed companies, may be examined in consultation with SEBI,” [...] Full Article

Accounting regulator ICAI today issued a clarification saying that internal auditors appointed as tax auditors can continue to do their work if their selection for the job took place before December 12 last year.  The Institute of Chartered Accountants of India decided that with effect from December 12 last year internal auditors cannot be appointed [...] Full Article

The Council in its 281st meeting held from 3rd to 5th October, 2008 decided that an internal auditor of an assessee, whether working with the organization or an independently practicing Chartered Accountant being an individual chartered accountants or a firm of chartered accountants, could not be appointed as his tax auditor. The said decision came [...] Full Article

COIMBATORE: Angry shareholders of Satyam may be miffed with the statutory auditors who have come in for sharp criticism following the dramatic revelations of accounting fraud in what is being billed as the country’s Enron. But there is not much clarity on the kind of action shareholders can take against the auditors Pricewaterhouse Coopers under [...] Full Article

A leading consumer goods industry in India, with a turnover of more than Rs.250 crores with activities spread across the country covering both the urban and rural markets, has been facing a downward trend in its sales along with rising marketing costs. Top management has been grappling with a changing consumer preference trend guided by the entry of a strong MNC competitor. Some major promoters and key marketing personnel have changed loyalties and have shifted to compet.. Full Article