Auditors

Deloitte stops non-audit services to public interest entities in India; says move to increase people's confidence in auditor independence

In a statement, Deloitte said this voluntary action is in the spirit of self-regulation and extends beyond non-audit services permissible under prevailing rules and regulations in India.

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders

SEBI proposes tighter disclosure for auditor resignations, says quitting before completion of audit hampers investor confidence

SEBI also proposed a format for disclosing reasons when the auditor of a listed entity or one of its material units resigns

IL&FS crisis: Spate of auditors' resignations in SMEs must be viewed seriously; it's time MCA swings into action

It is widely known that IL&FS created some 348 Special Purpose Vehicles (SPV)

IL&FS crisis: Auditors have many questions to answer; gravity of offence will determine quantum of action: Govt

Crisis-hit IL&FS group's debt burden is estimated to be more than Rs 94,000 crore and various entities, including some former officials and auditors, are under the scanner for widespread irregularities and huge loan defaults.

Telecom dept likely to appoint firms to audit revenues of private telcos amid industry's rising financial stress

The audit will be carried-out to check for any under-reporting of revenue by telecom companies, and is expected to be wrapped-up by middle of next year.

Karnataka High Court slaps Rs 1 lakh fine on tax official: Hit them where it hurts the most

The Karnataka High Court has ordered the high-handed and willfully defiant service tax official to cough up a hefty Rs 1 lakh as fine from out of his personal sources i.e. without burdening the department.

Govt plans to tighten rule for auditors after instances of misdeeds; to bolster corporate governance framework

In recent times, some auditing entities as well as auditors have come under the regulatory lens in connection with alleged misdoings at companies as well as for quitting audit work of corporates on various grounds

IL&FS crisis: How did the auditors, rating agencies remain silent spectators even as the ship was sinking

It is the auditor whose role always comes into question when a scam or mismanagement unfolds like it has happened with IL&FS

Government seeks clarifications from Jet Airways auditors on deferring results announcement

The Ministry of Corporate Affairs is seeking clarifications from the auditors of Jet Airways on the airline deferring announcement of its June quarter results