CA, CS, CMA : The article explains why oversight of auditors is essential to maintain public confidence in financial reporting. It highlights th...
CA, CS, CMA : Discover the 8 key mental skills top auditors use: remembering patterns, understanding the business story, connecting financial da...
CA, CS, CMA : This guide compares auditor report wording and structure across major global jurisdictions, including the US, UK, EU, and India....
Company Law : Learn the rules for auditor appointments under the Companies Act, 2023, including first auditor, subsequent appointments, casual v...
CA, CS, CMA : एनएफआरए सूचीबद्ध कंपनियों में वित्तीय धोखाधड़ी ...
Company Law : The concept of Auditor independence requires the auditor to carry out his or her work freely, with integrity and in an objective m...
CA, CS, CMA : It is requested to kindly consider amendment in the explanation to Section 288(2) of the Income 'lax Act. 1961 'so as to include t...
CA, CS, CMA, Company Law : 1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the...
Finance : The world's four biggest accounting firms are to appoint non-executive directors after coming under growing pressure from regulato...
Finance : That being the case, some of the people that you knew while they were in public accounting have completely disappeared never to he...
Company Law : Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5...
Company Law : ROC Kanpur imposed a ₹40,000 penalty on SEN HON LEE TECHNOLOGIES and directors for violating Section 118/146, stemming from the ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
CA, CS, CMA : NFRA imposes monetary penalty of Rs Five Lakhs upon CA Rajiv Bengal In addition he is debarred for Five years from being appointed...
CA, CS, CMA : The Finance Ministry revises remuneration for RRB statutory auditors, detailing audit fees, travel allowances, and expense norms f...
Bharti Airtel on Sunday welcomed the findings of the government-appointed special auditor and said the audit showed that the licence fees and spectrum charges paid by the company conform to the licence conditions and rulings of the regulator.
An auditor has to keep himself abreast of the latest developments in the audit field by constant upgradition of his skills and knowledge through Internet, seminars, self-study and correspondence course. The Satyam multi-crore scam is still fresh in people’s mind and investigations are in progress with the Chairman and Chief Finance Officer in jail pending investigation.
A former partner at the accounting firm Ernst & Young was found guilty on Friday of securities fraud for an insider trading scheme but not guilty of conspiracy charges. A jury in United States District Court in Manhattan found that the ex-partner, James E. Gansman, who worked at the firm until October 2007, was guilty […]
Patrick Stafford Accounting giant PricewaterhouseCoop ers has asked 5000 full-time staff to take up to three weeks of unpaid leave in an attempt to save costs. Chief executive Mark Johnson said in an email to staff that the requests are a “temporary initiative to respond to temporary times”, and that redundancies are a last resort.
In the case of one third of every mid cap company in India, the roles of the chairman and managing director or CEO were played by the same person. A majority of such companies (66%) do not have a policy for rotation for the members of their audit committees.
Time and again authorities and all stakeholders have realized that corporate governance and independent auditors are good terms and concepts to be cherished and for preaching. The recent Satyam -PWC Scam only confirms such a view. There will be such scams in future also. Even today also, there must be many balance sheets window dressed […]
India Inc is against rotation of auditors every few years. At a closed-door meeting with Sebi chairman CB Bhave, nearly 45 top honchos expressed their opposition to this move, being demanded by foreign institutional investors (FIIs). The attendees included K V Kamath, Uday Kotak, Mihir Doshi and U K Sinha.
State co-operation minister Harshavardhan Patil on Sunday said that a task force will be set-up to look into the matters of government auditors who are working with the co-operatives commissionerate.
The self regulatory body for auditors, ICAI is pushing for compulsory rotation of auditors by companies in view of mounting pressure from local financial institutions. “A high-powered committee is currently examining the option and a decision will be taken, based on their recommendation, very soon,” ICAI president Ved Jain told.
Embroiled in the Satyam scam, auditing firm Price Waterhouse’s assurance leader Thomas Mathew – a top executive in the organisation’s hierarchy stepped down from his position on Tuesday with immediate effect. The firm also suspended S Gopalakrishnan and Srinivas Talluri, the two arrested partners in the Hyderabad office of the company, from their positions until […]
