Page 3 - Audit

Have no responsibility to audit members of UPI ecosystem: RBI tells SC

The Reserve Bank of India (RBI), in its affidavit filed in the top court, also said that the matters related to "data privacy and data sharing" come under the domain of the central government

Loan book audit at IDBI Bank to identify stress areas ahead of stake sale

Audit report may form the basis of valuations in impending disinvestment by the government

Singapore Ex tightens audit rules for listed firms after market criticism

Singapore Exchange's regulatory unit will tighten requirements for listed company auditors and raise standards on valuation reports, introducing a regulatory code of conduct for auditors.

Compliance with new rules for audit reports deferred to April 2021-22

CARO 2020 requires auditors to comment on 50 matters as against 21 in the 2016 version of the order

RBI to conduct special audit of Srei Infrastructure Finance, subsidiary

In a notification to the exchanges, the lender said, RBI has appointed an auditor to conduct a special audit in exercise of its powers under Section 45 MA (3) of the RBI Act, 1934

Traders' body CAIT suggests measures to broaden GST to simplify taxation

Traders' body CAIT on Wednesday suggested a host of measures, like technical audits and waiver of late fees, to broaden the GST base and make the taxation system simple.

Greater transparency

New audit rules more onerous, but useful

Audit committees of company boards must play more active role: Think tank

Ways and means need to be explored to improve the role of the audit committee and to make it more involved and responsible, CEPR said

Govt's new audit rules to shield companies against financial frauds

Companies (Auditor's Report ) Order to enhance disclosures on part of auditors

GoAir cancels flights for second day in a row amid pilot shortage

GoAir will face action for not providing rest to its pilots in line with rules, said a senior Directorate General of Civil Aviation (DGCA) official.

NFRA finds huge gaps in Deloitte's audit of IFIN, says will examine further

The audit and accounting regulatory body has advised Deloitte to take action to revamp its processes and ensure compliance

SAT quashes Sebi's order against Price Waterhouse in Satyam scandal

The scandal involving overstatement of bank and cash balances by over Rs 3,300 cr had come to light in January 2009

Joint audits don't add up

The audit profession is in the spotlight for all the wrong reasons, the latest trigger being the IL&FS fiasco and the alleged involvement of the auditing firms in the scandal

Joint audits don't add up

The audit profession is in the spotlight for all the wrong reasons, the latest trigger being the IL&FS fiasco and the alleged involvement of the auditing firms in the scandal

Higher onus on trade in new audit approach

Under the new scheme, transaction-based audit will be confined to a few transactions under the risk management system

Audit giants see dominance waning

As a three-year transition for mandatory rotation ends in April 2017, smaller competitors are gearing up with aggressive pricing and hiring strategies

Presumptive taxation: No audit for turnover up to Rs 2-cr

Section 44AB of the Income-tax Act makes it obligatory for every person carrying on business to get his accounts of any previous year audited if his total sales, turnover or gross receipts exceed Rs 1 crore