CA, CS, CMA : Learn how banks use stock and receivables audits to independently verify inventory and debtors before allowing working capital wit...
CA, CS, CMA : The article explains how inadequate insurance coverage of hypothecated stock can expose banks to major financial losses despite va...
CA, CS, CMA : Differences between audited balance sheets and stock statements can significantly impact drawing power calculations. This article ...
CA, CS, CMA : The Audit Committee ensures oversight of audits, controls, and compliance beyond financial reporting. Its effectiveness depends on...
CA, CS, CMA : This explains what materiality means in an audit and why it matters for financial decision-making. The key takeaway is that materi...
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 AMAR JIT CHOPRA-AN INTRODUCTION : COUNCIL MEMBER FROM NIRC Mr. Amarjit Chopra did his post graduation in commerce from Delhi University in 1973. He qualified as a Chartered Accountant in the year 1975 and since then has been in practice as a senior partner of G S A & ASSOCIATES, (formerly known as Surendar […]
Even as Sebi officials are quizzing Satyam Computer founder B Ramalinga Raju and his brother Rama Raju at the Chanchalguda jail here, the Andhra Pradesh police are likely to make more arrests in the Rs 7,800 crore fraud involving the IT major. CID officials investigating the case have not ruled out more arrests in about […]
The Satyam affair has shaken the country’s audit profession and regulatory authorities to its roots. Investors have suffered in a big way and Indian business has lost some of its sheen. Has there been a systemic failure or is Satyam just a big exception? Has the macro-structure of the audit procedure not evolved in a […]
As government sleuths dig deep into the Satyam quagmire, they have been able to find some of the missing pieces to this sordid jigsaw puzzle. Simultaneously , they have also come up with some new revelations that add to the mystery. Here’s the latest poser: Was Satyam flush with funds in excess of Rs 3,500 […]
Price Waterhouse will defend its role as an auditor of the disgraced Satyam Computer Services, citing the 1986 verdict of the Bombay High Court that said an auditor should not be held responsible for tracking down ingenious and carefully-laid schemes of fraud in a company.
According to Ernst & Young, its aluation of Maytas Properties was used inappropriately by Satyam Computer (Q, N,C,F)* Services for its merger with Maytas, reports Business Standard.
In view of the Satyam scandal, software exporter HCL Technologies today said it has appointed KPMG as an independent auditor to review its balance sheet in addition to its statutory auditor Price Waterhouse. Price Waterhouse was the statutory auditor for Satyam Computer Services Ltd. “We have appointed an additional accounting firm (KPMG) to independently review […]
Sources in the Hyderabad police said the CB-CID police have arrested Satyam’s two Pricewaterhouse auditors S Gopal Krishnan and Srinivas Talluri last night. Pricewaterhouse had not responded to the arrest, at the time of filing the report.
No. VAT/ AMD-1008/IB/ ADM-06 Mumbai Dt: 23rd January, 2009 Trade Cir. 3 T of 2009 Sub : Submission of Audit Report for year 2007-08. Ref. : 1. Government Notification No. VAT-1508/C.R. -69/ Taxation-1 dated 10th November, 2008. 2. Trade Circular 39 T of 2008 No. VAT/ AMD-1008/IB/ ADM-06 dated 15th November, 2008. 3. Trade Circular […]
“The Indian stock market today has the potential to lift all boats across the entire social spectrum of the country and this potential needs to be exploited to the fullest if the government wants to realise the dream of reducing the poverty rate to single digit.”
