Audit firms eye global tie-ups to upgrade skills, build bandwidth
The primary reason, for global tie-ups, being cited is the growing complexity in businesses, which auditors must understand to deliver a high-quality audit, compounded by the fear of stringent action by regulatory and investigating agencies for negligence or collusion by them in cases of corporate frauds and business failures.
From armchairs to iPhones, India's millennials rent it all
Sharing economy is a global phenomenon & is expected to generate annual revenues o...
India's cybersecurity market to touch USD 3 bn by 2022: PwC-DSCI report
The transaction value of digital payments in India is estimated to gr...
Just Herbs raises $1.5 million in pre-series A funding
The company said the funds will be infused towards portfolio and distribution expansion besides new customer acquisition.
Big four face investor calls for tougher climate scrutiny
The case for tighter auditing has been bolstered by public statements from regulators and accounting watchdogs highlighting the potentially systemic risks that climate change could pose. The investors said they were concerned that climate change was being “ignored” in accounting and audits. The letter was seen by Reuters and its contents are being made public for the first time.
The whistleblowers: In the absence of a comprehensive law, here's how employee whistleblowers fare
The biggest issue in the life of people who raise ethics issues with management is finding future employment.
Infosys hires PwC to probe plaints
Infosys hired PwC to investigate two whistle-blower complaints alleging financial malfeasance against chief executive and finance chief. The company has already roped in law firm Shardul Amarchand Mangaldas (SAM) to look into the legal side of the complaints and asked its internal auditor, EY, to probe its revenue recognition practices.
Satyam case: SC restores Sebi's power to restrain erring auditing firms
The Supreme Court on Monday stayed a direction in the order of Securities Appellate Tribunal (SAT), which stopped market watchdog Sebi, from...
SC stays SAT's order holding that Sebi lacks power to bar auditors
The SAT, in its order which set aside the ban on audit firm Price Waterhouse (PwC), had noted that SEBI does not have the power to bar auditors. Earlier, the SEBI had challenged SAT's decision to quash a two-year ban that was imposed on PwC in connection with the Rs 7,800 crore Satyam fraud.
BPSL waived Rs 2.6k cr advances and undersold assets, reveal audits
The Enforcement Directorate (ED), which is probing alleged money-laundering by the promoters of the now-bankrupt company, has recorded findings of BDO, PricewaterhouseCoopers and Duff & Phelps in its investigation report. ET has seen the report. The National Company Law Tribunal initiated bankruptcy proceedings against BPSL on June 22, 2017.
Reliance Home bond investors to meet Thursday
RHFL has an outstanding bond liability of about Rs 3,500 crore, with both institutional and individual ownership.
PwC India to challenge ED’s Rs 230-crore penalty
PwC would file an appeal at the tribunal level in the next few days that would challenge the basis on which ED has interpreted the law and levied the fine.
Sebi challenges SAT ruling in PwC-Satyam case
The tribunal had quashed the order but partly allowed disgorgement of the Rs 13 crore fee from the auditors concerned.
Satyam scam: SAT quashes Sebi order of banning PwC for two years from auditing
The Securities and Appellate Tribunal (SAT) on Monday quashed an earlier order of Securities and Exchange Board of India (SEBI) to ban Price...
SAT quashes Sebi order of banning PwC for two years from auditing
SAT ruling went on to add that Sebi in fact has no jurisdiction banning any audit firm.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service