Page 2 - Audit

Deloitte audit report very soon as BYJU's files FY21 tax returns: Report

BYJU's, which faced intense scrutiny recently over several issues, made multiple acquisitions in FY21 and each of these acquisitions had a different accounting style and year

China state-owned giants to delist from US exchanges amid audit spat

The US SEC on July 29 added Alibaba to a growing list of companies that could be kicked off American exchanges if the two countries fail to reach a deal.

Vote against reappointment of Harsh Mariwala: SES to Marico's shareholders

Seeks approval for revision in remuneration payable to Marico's cost auditors

Shining a light on audit reforms

Cost cannot be an overwhelming consideration if joint audits lead to improvement in quality

SC extends time for completion of Sree Padmanabhaswamy Temple's audit

The Supreme Court extended the time limit till August 31, 2022, for completion of the special auditing exercise of the historic Sree Padmanabhaswamy Temple

CAG vs govt: The growing tussle between the auditor and the audited

Over the past decade, rapid structural changes in the economy have radically altered what was once a low-profile department

Cost accountants' body asks govt to allow members to carry audits of MSMEs

The institute has asked the government to allow its members to do various activities, including the tax audit under the Income Tax Act, 1961

US regulatory officials in China to discuss audit compliance: Report

The stand-off, if not resolved, could see Chinese companies kicked off New York bourses

Nearly half of Elon Musk's 90 million Twitter followers are 'fake'

According to Twitter auditing tool SparkToro, of Musk's 87.9 million followers (at the time of the research audit), roughly 48 per cent are fake, reports Time

PM Modi to address event to mark the first Audit Diwas on Tuesday

Prime Minister Narendra Modi will address an event on Tuesday to mark the first Audit Diwas at the CAG office.

Book-keeping to actuarial: Govt may ban non-audit services to audit clients

Move will improve corporate governance, address conflict of interest concerns

Sebi issues revised formats for issuers of non-convertible securities

Markets regulator Sebi on Thursday came out with revised formats for limited review and audit reports to be submitted by entities that have listed their non-convertible securities

ICAI against exempting small firms from mandatory statutory audit

Says NFRA has no jurisdiction over MSMEs

Goals of audit, executive are common: CAG Girish Chandra Murmu

Comptroller and Auditor General of India (CAG) G C Murmu on Wednesday said the audit and the executive are on the same side of table and their goals are common

NFRA flags serious lapses in statutory audit of JAL in 2017-18

Audit regulator NFRA on Friday flagged serious lapses in the statutory audit of Jaiprakash Associates Ltd (JAL) for 2017-18, including that transactions violative of accounting and auditing standards would have resulted in more than Rs 3,200 crore loss instead of a profit before tax in the particular financial year. The infrastructure company's statutory audit for 2017-18 was conducted by Rajendra K Goel & Co. In its 207-page Audit Quality Review Report (AQRR) issued on Friday, NFRA has listed out the lapses and said the audit firm failed to comply with requirements of various Standards on Auditing (SAs) and provisions of Standards on Quality Control (SQC). "The audit firm's reporting in the 'Basis of opinion' section of Independent Auditors Report is false and misleading. "The impact of the transactions violative of accounting and auditing standards, as identified in this AQRR are such that the profit before tax of Rs 351.71 crores, as reported in the financial statements, would .

Nangia & Co LLP becomes CERT-IN empanelled, can conduct govt's audit

Nangia & Co LLP on Tuesday said it has been empanelled by the Indian Computer Emergency Response Team (CERT-IN), which will enable it to audit and assess government IT infrastructure. The empanelment by CERT-In empowers Nangia & Co LLP to offer its cybersecurity solutions, carry out IT security audits, including vulnerability assessment and penetration testing, ISMS Compliance Assessments, etc, of central and state governments, public sectors, and corporate organisations, according to a statement. Srinivasa Rao, partner and leader (risk advisory services) at Nangia & Co LLP, said our focus remains to support businesses and governments with effective cybersecurity services, and "we are thrilled to see the hard work of Nangia & Co LLP's security teams being recognised in this empanelment". Nangia & Co LLP Partner (Cybersecurity) Shrikrishna Dikshit said, "The CERT-IN empanelment is a major milestone in our journey to becoming the preferred partner for enterprises ...

EY accused of concealing US health firm's audit fraud from investors

Indian entrepreneur files lawsuit, naming accounting giant as a co-conspirator in the fraud alongside former executives.

Punjab's excise dept engages IIT-Ropar to audit liquor manufacturing units

Punjab's excise department on Monday said it has engaged IIT-Ropar to conduct an audit of liquor manufacturing units in the state, a move which is aimed to check any pilferage

UK watchdog investigates auditors of Greensill Capital, Wyelands Bank

Britain's accounting regulator said it has opened an investigation into how PwC audited the accounts of Wyelands, the bank owned by steel tycoon Sanjeev Gupta's metals-to-finance empire GFG Alliance

RBI extends Risk Based Internal Audit rules to housing finance companies

RBI extends RBIA rules to all deposit taking HFCs and non-deposit taking HFCs with assets above Rs 5,000 cr with effect from June 30, 2022