Company Law - An auditor is a professional who is responsible for examining and evaluating the financial records, transactions, and statements of an organization to ensure accuracy, transparency, and compliance with applicable laws and regulations. Auditors play a critical role in detecting and preventing financial fraud or embezzlement within organiza...
Company Law - Explore intricacies of Section 139(2) in Companies Act, covering appointment of statutory auditors and addressing casual vacancies. Learn about auditor terms and implications...
Company Law - Explore comprehensive guide to Chapter X of Companies Act 2013, covering audit and auditors' critical provisions and regulations in India....
Company Law - Supreme Court's recent decision in Deloitte Haskins and Sells LLP to uphold Section 140(5) of Companies Act 2013 & its impact on auditors in India....
Company Law - Explore the auditor's role in detecting and preventing errors and frauds in auditing. Learn about responsibilities, challenges, and regulatory requirements....
Company Law - The concept of Auditor independence requires the auditor to carry out his or her work freely, with integrity and in an objective manner. Though auditor is appointed by the shareholders, effective power of their appointment and dismissal lies with the management....
Company Law - It is requested to kindly consider amendment in the explanation to Section 288(2) of the Income 'lax Act. 1961 'so as to include the profession of Company Secretary within the meaning of the Company Secretaries Act, 1980 in the definition of Accountant...
Company Law - 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...
Company Law - 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 ...
Company Law - 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...
Union of India and Another Vs Deloitte Haskins and Sells LLP & Anr (Supreme Court of India) - Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5) is neither discriminatory, arbitrary and/or violative of Articles 14, 19(1)(g) of Constitution of India...
Circular No. NF-25013/2/2023 - (26/06/2023) - NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circular emphasizes consequences for auditors who fail to fulfill their reporting duties and clarifies that resignation does not absolve them of their responsibilities....
Order No. NF-23/30/2021 - (19/09/2022) - NFRA imposes monetary penalty of Rs Five Lakhs upon CA Rajiv Bengal In addition he is debarred for Five years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or bo...
F 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, ...
Circular No. NF-25013/2/2023 - 26/06/2023
Union of India and Another Vs Deloitte Haskins and Sells LLP & Anr (Supreme Court of India) -