Auditor

Adani says appointment of Grant Thornton as auditor 'market rumour'

Adani group's flagship firm on Thursday termed as 'market rumour' reports of the embattled group hiring Grant Thornton to audit books in the aftermath of the Hindenburg crisis. In a stock exchange filing, Adani Enterprises said the reports "appears to be a market rumour and hence it would be inappropriate on our part to comment on it." On Tuesday, sources had stated that the group has appointed accountancy firm Grant Thornton for an independent audit of a few of its companies to come clean after the allegations levelled by US short-seller Hindenburg Research and to assure investors and regulators. The audits, the sources had said, was to specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for. The market value of the group's listed companies has halved since the January 24 report by Hindenburg Research alleging that Adani pulled the largest con in corporate history using offsh

CAG says 3 state-owned oil firms ignoring own software for logistics

National auditor says state-owned companies make monthly adjustments that aren't best for saving costs, efficiency

NFRA aligning to global standards but industry awaits more clarity

Experts want the authority to set some limit on the time it would spend on on-site visits

Ajay Singh-owned SpiceHealth's auditor resigns, says busy with other work

On August 1 this year, Bubber Jindal and Company tendered its resignation as statutory auditor of SpiceHealth

ABG Shipyard's Rs 23k-cr fraud: Auditor failed to red-flag fund diversion

Audit firm partner junked Indian citizenship; paid Rs 27.5 lakh to settle Sebi probe

CAG Murmu becomes external auditor of International Atomic Energy Agency

India's Comptroller and Auditor General G C Murmu was on Friday selected as the external auditor of the International Atomic Energy Agency

Price Waterhouse quits as GVK Infra auditor, cites lack of information

"Details of information and explanations sought and still not provided is reiterated in our letter dated August 12, 2020 to the management," Price Waterhouse said in its letter

Coffee Day board likely to deliberate on investigation report on Friday

Sources said the management and BSR & Associates had several differences over valuation of subsidiaries

YES Bank auditor red-flags multiple breaches of RBI's norms in FY20

Bank sets aside Rs 334 cr for expected penalty for SLR breach

Auditor flags doubt on McLeod Russel's ability to stay in business

The auditor has also stated that the financial statement prepared by the company is not in accordance with the requirements of Regulation 33 of the Sebi

Govt loosens norms for auditor rotation for unlisted companies

The government has relaxed conditions for unlisted companies that do not have loans from banks, financial institutions or deposits from public of more than Rs 50 crore on rotation of auditors. Currently, these companies can't appoint individual auditors for consecutive five years and auditor firms for two straight terms of five years if their paid up capital is at least Rs 20 crore. The ministry of corporate affairs has come out with a notification amending this rule under the Companies Act to raise this threshold to Rs 50 crore. "The increase in the threshold on paid-up capital for triggering rotation of auditors would provide relief to a number of private companies where there is limited public interest," said Sai Venkateshwaran of KPMG. Mamata Binani, past president of the Institute of Company Secretary said this will help in ease of doing businesses for these firms. These companies will not have to keep rotating auditors now. The rule was changed in line with recommendations of ...