CA, CS, CMA : The article explains how unusually flawless records may signal a managed presentation rather than genuine business performance, re...
CA, CS, CMA : Focusing only on receivables can miss significant risks embedded in related-party payables. A bilateral review reveals internal gr...
CA, CS, CMA : This comprehensive checklist covers every stage of a stock and receivables audit, from engagement acceptance to final reporting. I...
CA, CS, CMA : A perfect stock valuation can still conceal serious lending risks if critical operating licences have expired. Auditors should ver...
CA, CS, CMA : The article highlights practical dilemmas faced during stock audits by borrowers, auditors, and bankers. It explains how professio...
Income Tax : Join us for an insightful session with CA Bikash Bogi, a seasoned tax expert with over 15 years of practical experience, as he bre...
Company Law : Multinational companies cannot conduct surrogate audit work in India under Chartered Accountants Act, 1949 and Companies Act, 2013...
CA, CS, CMA : Get expert support on auditing aspects for statutory audits. ICAIs Auditing and Assurance Standards Board (AASB) forms an expert p...
CA, CS, CMA : Discover the catalytic role of audit in enhancing efficiency and effectiveness, as emphasized by the Comptroller and Auditor Gener...
CA, CS, CMA : Explore the essential aspects of audit documentation, its nature, purposes, and compliance requirements. Learn best practices for ...
Service Tax : The High Court in this regard stayed CAG audit of a private limited company providing warehouse and logistical support services in...
Service Tax : Gujarat High Court granted stay on conducting audit of records of taxpayers under 5A of Service Tax Rules, 1994, by Officers of C&...
Finance : The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Uni...
Income Tax : and contributed by the assessee to a firm towards capital contribution should be treated as stock in trade even during the course ...
Income Tax : The Delhi High Court (HC) [2010-TIOL42-HC-DEL-IT] in the case of CIT v. Industrial Finance Corporation of India (Taxpayer) which...
Company Law : The ROC Ahmedabad penalized the company and its director for failing to appoint independent directors and constitute an audit comm...
Goods and Services Tax : Learn about the latest directive from the Ministry of Finance regarding joint audits by CGST and SGST officers. Understand the fra...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
CA, CS, CMA : (1) These Regulations may be called Regulations on Audit and Accounts (Amendments) 2020 (2) They shall come into force on the date...
CA, CS, CMA : Labour Department, Government of Haryana vide its Notification No. 11/38/2016-4Lab dated 10th August, 2016 formulated Third Party ...
CA. Uttam P. Agarwal, President, CA. Amarjit Chopra, Vice-President and CA. Anuj Goyal, Chairman, PDC along with other representatives of ICAI had an interaction with Shri P.S. Sharma, General Manager and Shri S. Ramachandran, Dy. General Manager, Department of Banking Supervision, Reserve Bank of India on 9th February, 2009. The major issue was managerial autonomy […]
Tainted Satyam auditor Price Waterhouse heads for a disgraceful exit as the new board of the IT Company is believed to have initiated steps to remove the auditor midway. Sources said the new board will approach the central government with this proposal and then take it up with the company’s shareholders.
The suitors seeking to take over the scam-hit Satyam Computers will not be able to go through the restated financial statement or the third quarter results prior to the bidding, a senior company official said.
I am attaching herewith copy of Email from CA Anuj Goyal, Chairman, Professional Development Committee ob above subject. Email is as follows:- Dear Professional Colleagues, As you are all aware that Reserve Bank of India has recently formulated a new procedure for Appointment of Branch Statutory Auditors in Public Sector Banks for the Year 2008-09. […]
PwC’s unqualified opinions of Satyam’s financial statements were materially false and misleading… as an accounting expert which consented to the use of its unqualified audit opinions, PwC is liable for the material misrepresentations or omissions… Excerpt from a Class Action Complaint against Satyam, Ramalinga Raju, Rama Raju, Srinivas Vadlamani and PricewaterhouseCoop ers filed in a […]
In the wake of the Satyam accounting fraud, the ministry of corporate affairs has woken up to the need of stronger auditing standards and feels that the new Companies Bill would provide a stronger regulatory platform since the Centre would notify the same as part of the bill.
A meeting with Ms. Parveen Tripathi, Dy. C&AG was held on 9th February, 2009. The meeting was attended by the President CA. Uttam P. Agarwal, Vice-President CA. Amarjit Chopra and CA. Anuj Goel, Chairman, PDC. In this meeting, Shri K. P. Sasidharan, Principal Director (Commercial) and nominee of the C&AG of the Central Council was […]
A delegation of the Public Finance Committee of the Institute of Chartered Accountants of India (Icai) led by chairman, Mr Subodh Kumar Agrawal called on state finance minister Mr Prafulla Chandra Ghadei and offered free consultancy service to the state government. The consultancy service, free of cost, given to the Union government, state government and […]
Where in any financial year the assessee has made investments or is found to be the owner of any bullion, jewellery or other valuable article, and the Assessing Officer finds that the amount expended on making such investments or in acquiring such bullion, jewellery or other valuable article exceeds the amount recorded
The high power committee of the Institute of Chartered Accountants of India (ICAI) on Wednesday submitted its interim report on the financial scam of Satyam Computer Services. ICAI said the report is interim in nature since restatement of accounts of Satyam is in progress and is expected to take another two months to complete. ICAI […]
