ICAI SIA 160 outlines internal auditor responsibilities for assessing compliance frameworks, identifying gaps, and reporting non-compliance, while management retains ultimate responsibility.
SIA 150 clarifies management and internal auditor roles in risk management. It defines the framework, steps, and requirements for auditors to assess and provide assurance on the effectiveness of organizational risk processes.
ICSI reports numerous technical issues—including OTP failures, data errors, and DSC problems—on the MCA-21 V3 portal and requests an extension for annual filings and relaxation of additional fees until December 31, 2025.
The CCI released a market study on AI and competition, identifying emerging risks and advocating for government policies to lower entry barriers, enhance AI access, and require mandatory enterprise self-audits.
GST rate cuts (12-18% to 5%) on Arunachal Pradesh’s produce and handicrafts, like oranges and carpets, lower prices by up to 11%, increasing producer margins and market competitiveness.
Manipur’s economy is set to gain from 2025 GST reforms, which lower rates on handloom, crafts, processed food, and coffee, boosting profitability and market reach for over 5 lakh workers.
Maharashtra’s 2025 GST reforms cut rates across sugar, textiles, fisheries, automotive, and services, lowering costs and boosting income for workers and consumers.
Nagaland’s 2025 GST reforms cut rates to 5%, benefiting handloom weavers, bamboo artisans, coffee growers, and tourism services with higher earnings and affordability.
ICMAI updates CPE guidelines for members, detailing structured and unstructured credit hours, exemptions, and professional development requirements from 2024.
SIA 140 defines Internal Controls and clarifies management’s and the Internal Auditor’s responsibilities for their design, implementation, and assessment, covering financial, operational, and compliance risks.
