Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,796.4596.8
Stock Analysis, IPO, Mutual Funds, Bonds & More
A slew of systemic and cultural issues that threw top auditors off balance

Each day as clamour grows for strict action against auditors, the profession finds itself at a crossroads.

Ahead of NCLT hearing, BSR quits as IFIN auditor

Govt had sought a ban on BSR & Deloitte for alleged role in concealing bad loans at IL&FS.

PwC hires law firms anticipating tussle with Reliance Group, agencies

PwC has hired three law firms as it expects a legal tussle to erupt soon.

Auditors being ‘irrational’ for doubting Reliance infrastructure’s business: Punit Garg

BSR & Co & Pathak HD doubted co’s ability to continue as a going concern after its Rs 3,301-cr loss in Q4.

MNCs in a fix over likely ban on 2 audit firms in India

MNCs and Indian cos with global operations are in a fix over their audits amid likely ban on KPMG and Deloitte.

US’ WeWork in talks to buy Out India unit

However, the process is unlikely to be concluded immediately, two persons with direct knowledge of the development told ET.

Tatas await decision on plea to ban Deloitte, BSR

If the ban comes to play, it will be a setback for the two firms as it will lead to 300-plus listed companies shifting their business to other audit firms.

More auditors likely to expose accounting issues, then quit

Multiple insiders said at least a dozen audits firms are evaluating whether they should resign.

PwC to MCA: Resigned from Reliance companies as didn’t get satisfactory responses to queries

PwC has not gone into the specifics but merely hinted that there were certain transactions involving the group companies. “We did not receive substantive/satisfactory response to our queries in light of our observations.

Auditors weigh quitting companies with dodgy a/c policies

Flurry of resignations in sectors such as real estate, infra and NBFCs are likely to come in next few months.

View: Elementary, my dear auditors

View: Elementary, my dear auditors

It's time statutory audit evolved once more to include elements of forensic audit.

Aiding "organised crime": India alleges 22 audit violations by Deloitte, KPMG arm in IL&FS case

Aiding "organised crime": India alleges 22 audit violations by Deloitte, KPMG arm in IL&FS case

Govt has detected at least 22 violations of auditing standards by Deloitte and a KPMG affiliate at IL&FS.

Grant Thornton India, affiliates not to take up non-attest work from listed audit clients

Grant Thornton India, affiliates not to take up non-attest work from listed audit clients

The latest decision assumes significance against the backdrop of various auditors and auditing firms coming under regulatory scanner for violations in the IL&FS matter.

PwC red flags holes in Reliance Capital, Home Finance books

PwC red flags holes in Reliance Capital, Home Finance books

The irregularities involved alleged diversion of funds between the two firms and other group companies.

Big 4 firms thinking of keeping off risky audits

Big 4 firms thinking of keeping off risky audits

The audit firms say they must take hard calls on the business after a series of strict regulatory actions.

Ban on Batliboi not fair, EY tells RBI

Ban on Batliboi not fair, EY tells RBI

The firm has made representations to the RBI about the unfairness of such a ban and sought a relaxation of its stance, one of the people cited above said.

Load More...
1

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

BACK TO TOP