NFRA seeks client details from auditors
The audit regulator seeks info on audit processes, number of clients, non-audit work done for them and fees.
Bank auditors have to be more vigilant
Under the new framework, statutory auditors, in verifying whether an NPA has been correctly identified...
Six Coal India arms did not formulate policy as mandated by environment ministry: CAG
"Six out seven coal producing subsidiaries of CIL did n...
Auditor general detects financial irregularities of Rs 108 crore in NRC
Supreme Court monitored NRC exercise started in December 2013. The Office of Accountant General (Audit) had submitted to State Coordinator, NRC the inspection report of the office of State Coordinator, NRC for the period April 1, 2014 to December 3, 2017 with a request to furnish reply to the Inspection Report within one month.
Sebi action against auditors not 'turf war': Ajay Tyagi
In 2018, the regulator banned Price Waterhouse for two years from auditing any listed firm.
Police shares findings on PMC’s arrested auditors with ICAI
According to the police, Rakesh and Sarang Wadhawan of real estate firm HDIL, who are among the accused in the case, had allegedly tampered with the bank’s core banking solution to operate 44 password-protected accounts. Overdrafts disbursed by the bank to these accounts eventually made it to the accounts held by HDIL or its promoters, the police had alleged.
Shoddy ammo from ordnance factories hitting military: CAG
TOI had reported on May 14 that the Army had sounded alarm over the unacceptably high number of accidents taking place in the field due to poor quality of ammunition being supplied for tanks, artillery, air defence and other guns by the OFB, which has 41 ordnance factories under it with an annual budget of over Rs 15,000 crore.
Govt asks e-commerce firms to file FDI compliance report annually
"Against Sl. No. 15.2.3, for entry (p), the following entry shall be substituted, namely-(p) e-commerce marketplace entity with FDI shall have to obtain and maintain a report of statutory auditor by 30th of September every year for the preceding financial year confirming compliance of the e-commerce guidelines," the gazatte notification said
Coal India faces CAG heat over Rs 371 crore excess PF deposit
PSU accused of violating law by parking co’s share of leave encashment
ICAI sign MoU with Kuwait auditors and accountants association
Prafulla Chhajed, President of the ICAI said " “India and Kuwait share a cordial relationship, strengthened and nurtured with historical trade links, cultural affinities and presence of large number of Indian nationals in Kuwait" adding that there was a need to promote Kuwait-India business partnerships when signing the MoU.
Forensic auditors to now investigate Altico Cap’s books
Banks have to investigate an RFA and form an opinion on whether there’s fraud within a period of six months.
BJP skilled at selling, not creating; it will sell railways next: Priyanka Gandhi
"Indian Railways is the lifeline of the country. Now, the BJP government has also brought railways to its worst state. After a few days, just like other government entities, this government will start selling of railways as well. This government is skilled at selling, not creating," Priyanka Gandhi said in a tweet in Hindi.
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.
Another auditor arrested in PMC Bank scam
This is the eighth arrest in the case. Anita Kirdat (35), a 'concorrent auditor' of the bank, was arrested on Tuesday. Her responsibility was to ensure a "systematic and timely examination" of the bank's financial transactions. Kirdat audited the bank's transactions monthly, but allegedly could not or did not point out irregularities in its processes.
EOW arrests two auditors in connection with PMC Bank scam
The Economic Offences Wing (EOW) on Monday arrested two auditors in connection with PMC Bank scam and will produce them in Court today seeking their police remand.
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