In the wake of Citibank fraud and other scams, Finance Minister Pranab Mukherjee today cautioned against “window dressing” by accounting firms and called for stricter disclosure guidelines. “Accountants have a critical role in guarding against windo
The Supreme Court today said Sebi was entitled to seek all necessary information from two Sahara group firms on how resources were being raised but refused to stay the companies’ ongoing fund-mopping exercise. The apex court was hearing market regula
India’s exports during November, 2010 were valued at US $ 18895 million (Rs. 85063 crore) which was 26.5 per cent higher in Dollar terms (22.3 per cent higher in Rupee terms) than the level of US $ 14933 million (Rs.69537 crore) during November, 2009
The Institute of Chartered Accountants of India (ICAI), working under the aegis of the Ministry of Corporate Affairs, is organizing a three-day International Conference on Accountancy Profession: Catalyst to Sustained Economic Growth, here from today
The retirement fund manager EPFO plans to replace PF account number with unique identification number, a move which will help in speedy transfer of subscribers’ funds in case of job change and allow them to track their accounts online. At present whe
The government will stick to its April 1 deadline for 300 large companies to align their accounts with global financial reporting norms, despite concerns raised by an industry lobby. India will have to honour the commitment made at the G20 summit,
The Reserve Bank of India has launched the 53rd round of the Industrial Outlook Survey (IOS) for reference period January –March 2011. The Reserve Bank is conducting the Industrial Outlook Survey on a quarterly basis since 1998. The survey gives an i
In such cases, the exporters shall use the manual Shipping Bill filing option on the DGFT’s server to file their application for Export Promotion Schemes (Chapter 3,4 and 5 for the FTP). Moreover, necessary documents in original including Shipping Bills will need to be submitted to jurisdictional Regional Authority of DGFT by the exporter. However, EDI Shipping Bills which are not transmitted properly will need to be EDI cleared and transmitted to DGFT’s Server for grant of benefits. EDI Shipping Bill will not be accepted through manual option mode.
Upholding a district forum order, the Maharashtra State Consumer Disputes Redressal Commission recently dismissed an appeal filed by an insurance firm. The commission ruled against the Oriental Insurance Company after it appointed a second surveyor t
Accounting regulator ICAI is opposed to the tendering process of selecting accountants for auditing state-run schemes and has taken up the issue with the Planning Commission and the CAG. The ICAI wants the appointment to be done through fixing the
