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CA, CS, CMA - The spirit of Audit is losing ground as the time is passing. The general perception that use of technology in banks has eliminated the chance of frauds is just an eye wash. The Nirav Modi case is just a tip of ice berg and day is not far when we will see the whole ice meltdown, if remedial steps are not taken and auditor is not allowed to...
Read MoreCA, CS, CMA - In order to ensure independency of auditors, I suggest overall change in the auditor’s appointment procedure so that no one should be able to influence auditors. In today’s modern technological environment, this can be achieved by creating Automated Auditor Appointment Agency (4A)....
Read MoreCA, CS, CMA - Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited....
Read MoreCA, CS, CMA - If an auditor of a company, in the course of the performance of his duties as auditor, has sufficient reason to believe that an offence involving fraud, is being or has been committed against/in the company by officers or employees of the company, he shall report the matter in the manner stated hereinafter....
Read MoreCA, CS, CMA - In this Flash editorial, the author begins by referring the provisions of Section 139 & 140 of Companies Act, 2013 relating to ratification of Auditor in every Annual General Meeting & Removal of auditor. The main thrust of the article, however, is upon the indirectly removal of Auditor through Non Ratification of Auditor...
Read MoreCA, CS, CMA - 1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. 3. Revised SA 705, Modifications to the Opinion in the Independent Auditor’s Report. 4. Revised SA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Indepe...
Read MoreCA, CS, CMA - The world's four biggest accounting firms are to appoint non-executive directors after coming under growing pressure from regulators over governance.Ernst & Young, which along with law firm Linklaters has been been accused of providing window dressing for Lehman Brothers' risky financial structures, today became the first of the big four ...
Read MoreCA, CS, CMA - That being the case, some of the people that you knew while they were in public accounting have completely disappeared never to heard from again. Those of you still at the mercy of the billable hour might assume that these refugees are loving life in their new jobs – working 40 hours a week, making far more money and seeing more than an...
Read MoreCA, CS, CMA - The Accountancy & Actuarial Discipline Board (AADB) said it would probe the final years before the bank’s demise, focusing on the use of particular repurchase transactions, known within Lehman's as Repo 105s, allegedly used to displace assets during sensitive reporting periods....
Read MoreCA, CS, CMA - PricewaterhouseCoopers is facing an inquiry by accounting regulators into its failure to notice that JP Morgan was paying up to £16 billion of clients’ money into the wrong bank accounts. Last week the Financial Services Authority fined the investment bank £33.3 million...
Read MoreF No 7/4/2015-RRB- Vol(11) - (16/10/2017) - I am directed to refer to NABARD's letters NB.HO.IDD/260/RRB-322/2017-18 dated 2nd June 2017 and NB.HO.IDD/468/RRB-322/2017-18 dated 25th July 2017 on the above cited subject and to convey the approval of the Central Government in terms of provisions of section 19(2) of the Regional Rural Bank act, ...
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F No 7/4/2015-RRB- Vol(11) - (16/10/2017) -
