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...
We all are still in disbelief mood as far as cash & bank balance fraud is concerned. Although there is no confirmed news, but the information gathered from some of sources of the investigating agencies (ICAI, SEBI etc.) are as under:
India always got an Overweight Rating as compared to its Emerging Market Peers from FII’s Backed by its good corporate Governance (!!!) But the Biggest scandal(so called event from Satyam) among the indian corporates raised major questions about the auditing practices and principles that they were following at the moment.Moreover these auditing works are carried […]
In the aftermath of the Satyam fiasco, like in any other scam, questions are raised about how to avoid one the next time. In this backdrop, chief financial officers and experts reckon that changing the auditor every four years, as is an international practice, could be the way out. M Damo-daran, former Sebi chief, in […]
Shaken by the alleged “inaction” of Satyam Computer’s auditor Price Waterhouse, the Institute of Chartered Accountants of India is planning to push for a cap on the tenure of a company’s auditor. The institute is also looking into the possibility of issuing guidance to its members on “compulsory verification” if a company’s cash and bank […]
Just when The Institute of Chartered Accountants of India (ICAI) probes allegations of fraud against auditors of Pricewaterhouse in the Satyam and Global Trust Bank (GTB) cases, an auditor from the firm who was part of both the audits continues to sit on the all-important council of the accounting regulator, raising many eyebrows. According to […]
