Finance - Page 378

Internal Audit for Stock Brokers/Clearing Members

Circular No. MIRSD/ DPSIII/ CIR-26/ 08 (22/08/2008)

In continuation with the Circular No.F.1/5/SE/ 83 dated May 31, 1984 of Government of India, Ministry of Finance, Department of Economics Affairs, Stock Exchange Division, you are advised to direct your stock brokers/clearing members to carry out complete internal audit on a half yearly basis by independent qualified Chartered Accountants...

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ICAI issues 4 new standards for internal checks in firms

Apex accounting body ICAI today issued four new standards to help companies streamline internal audits for minimising pilferage, ensuring cost efficiency and mitigating waste.This will standardise the process of internal checks in companies, and "companies can now expect that professionals engaged in internal audit will be rendering servi...

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Posted Under: SEBI |

Abhinav Bindra wins India's first ever individual Olympic gold in Beijing Olympics 2008

World champion Abhinav Bindra wins India's first ever individual gold at the Olympic Games by winning the gold medal at the men's 10m air rifle event in Beijing on Monday. Bindra, a Khel Ratna awardee, finished the qualifying event joint fourth with Romania's George Alin Moldoveanu after the duo shot a score of 596/600....

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Posted Under: SEBI |

Popularisation of project “FCRA Online Facility for prior permission cases”

Public, in general, and the NGOs and professionals, in particular, are hereby informed that this facility has been made mandatory w.e.f. 01.08.2008 to facilitate associations to file their applications for prior permission to accept foreign contribution under the Foreign Contribution (Regulation) Act, 1976, online, on the Ministry of Home...

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Posted Under: SEBI |

Energy audit in tea factories

In the first instance, 15 bought-leaf tea factories in Nilgiris have applied for energy audit under the energy conservation project launched by Tea Board in co-operation with United Nations Development Programme’s Global Environment Facility and implemented by Technology Informatics Design Endeavour (TIDE). ...

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Posted Under: SEBI |

CLB likely to replace BIFR

Sick industrial units may no longer have to wait for decades for the authorities to decide whether they should be revived or liquidated. To fast-track the determination of industrial sickness of enterprises, the government is planning to expand the scope of the Company Law Board (CLB) to assess whether a sick unit should be liquidated or ...

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Posted Under: SEBI |

MoF revises ECB policy; enhances USD 20 mn limit to USD 50 mn for Rupee expenditure

*HAVING reviewed the External Commercial Borrowing (ECB) in* in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience, the Ministry of Finance today enhanced the limit to USD 50 mn for Rupe...

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Posted Under: SEBI |

Notification on Accounting Standards by the Central Government under The Companies Act, 1956

The Government recognises the importance of financial reporting in providing essential financial information about the company to its shareholders and other stakeholders, as an integral and important part of good corporate governance. Such information needs to be reliable, free from bias and should enable comparison on the basis of common...

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Posted Under: SEBI |

Advocates cant audit, only CAs/cost accountants can

The Supreme Court today said that only chartered or cost accountants will be eligible to audit and certify sales tax returns in bid to prevent evasion. The decision would affect the lawyers specialising in Sales Tax laws and former Sales Tax officers who work as sales tax practitioners....

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Posted Under: SEBI |

SC rules provident fund subscriber is ‘consumer’

The Supreme Court has held that services rendered by the office of Regional Provident Fund Commissioner of the Employees Provident Fund Organisation will fall within the ambit of ‘service’ under the provisions of Consumer Protection Act (1986) and the subscriber under the Provident Fund scheme is a ‘consumer’ under this Act....

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Posted Under: SEBI |

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