CARO 2020 | Companies (Auditor's Report) Order, 2020
Posted Date : 03-Mar-2020 , 10:28:16 am | Posted By CASANSAAR
CARO 2020 - Clause by Clause discussion on CARO 2020, Companies (Auditor's Report) Order, 2020 by CA. Anmol Rana.
Watch This Video,,,,
https://youtu.be/vxtH9_A95nA
...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 789
|
 |
Audit committees need to play more active role - CEPR
Posted Date : 02-Mar-2020 , 08:33:20 am | Posted By CASANSAAR
Audit committees of boards of companies need to play a more active role for stronger checks against all financial and governance related wrongdoings, right-leaning think tank Centre for Economic Policy Research (CEPR) has said.
There is a need to clearly define the responsibility and accountabili...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 546
|
|
Ceiling on the No.of Audits can be done by Chartered Accountant | Statutory Audits | Tax Audits
Posted Date : 27-Feb-2020 , 09:54:37 am | Posted By CASANSAAR
How many Audits a Chartered Accountant in Practice can do?
- Statutory Audit under Companies Act.
- Tax Audit under Income Tax Act.
Ceiling on No.of Audits can be done by Chartered Accountant in Practice discussed by CA. Vivek Khurana.
Watch this Video,,,,
https://youtu.be/R8SCay2DuXQ
...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 2174
|
|
Companies (Auditor's Report ) Order to enhance disclosures on part of Auditors
Posted Date : 27-Feb-2020 , 09:39:34 am | Posted By CASANSAAR
In a bid to bring greater financial discipline in audits, the government has asked auditors to provide details like loans given by a company for reporting whistleblower complaints and assessing internal audit mechanisms of firms.
In a press statement issued on Wednesday, the corporate affairs min...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 325
|
|
CAG holds meeting with Ministries to seek suggestions on Auditing
Posted Date : 25-Feb-2020 , 08:40:21 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) on Monday held a meeting with representatives of several Ministries seeking suggestions on areas that could be selected for audit.
With a view to involve the executive side in the audit planning process by seeking their suggestions, the CAG interacted wit...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 907
|
|
Deloitte also stops Non-Audit services to clients in India
Posted Date : 17-Feb-2020 , 08:52:09 am | Posted By CASANSAAR
The Indian affiliate of Deloitte Haskins and Sells on Sunday said the auditor and its network firms in the country will no longer offer non-audit services to “public interest entities" they audit in India, three days after Price Waterhouse India made a similar announcement.
“We b...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 628
|
|
PW India becomes first of top 4 audit firms to not provide non-audit services
Posted Date : 13-Feb-2020 , 09:34:37 pm | Posted By CASANSAAR
Price Waterhouse Network of Firms in India (PW India) on Thursday announced their decision to no longer provide non-audit related services to their audit clients in India which are governed by National Financial Reporting Authority (NFRA). This comes after a ministry of corporate affairs (MCA) discu...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 346
|
|
MCA may soon tighten reporting norms for Auditors
Posted Date : 29-Jan-2020 , 09:41:08 am | Posted By CASANSAAR
The government is planning to tighten reporting norms for auditors to ensure they perform their duties responsibly, BusinessLine reported.
The Ministry of Corporate Affairs (MCA) might tweak the Companies Auditors Report Order (CARO) and the audit reporting standards as mandated under the Compani...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1331
|
|
High Court Decision on Communication or NOC from Previous Auditor
Posted Date : 15-Jan-2020 , 09:12:59 am | Posted By CASANSAAR
Delhi High Court Decision on Communication or NOC from Previous Auditor explained by CA.(Adv) S.S.Sharma. Watch this Video.
https://youtu.be/p5msbZ_RZuI
Dont Forget to Like the video and SUBSCRIBE CA Sansaar YouTube Channel
...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 2984
|
|
NBFC supervision to cover auditors, banks, rating companies
Posted Date : 25-Dec-2019 , 08:38:15 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has extended supervision to auditors, banks and rating companies to prevent defaults and ensure broader financial stability.
“Apart from strengthening the existing four pillars of supervision — on-site examination, off-site surveillance, market intellig...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 747
|
|
NFRA indicts Deloitte over lapses in IFIN Audit
Posted Date : 13-Dec-2019 , 07:21:22 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) has indicted Deloitte Haskins and Sells LLP for what it called significant failures in the statutory audit of IL&FS Financial Services Ltd (IFIN) for 2017-18 and is examining whether disciplinary proceedings against the auditor need to be initiat...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 903
|
|
Concurrent Auditor arrested in PMC Bank scam
Posted Date : 14-Nov-2019 , 08:49:00 am | Posted By CASANSAAR
The Economic Offences Wing (EOW) of Mumbai Police has arrested an concurrent auditor in connection with the alleged Rs 4,355 crore scam at the Punjab & Maharashtra Cooperative (PMC) Bank, an official said on Wednesday.
This is the eighth arrest in the case.
XXXXXXXXX (35), a 'Concorren...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 2307
|
|
EOW arrests two Auditors in connection with PMC Bank scam
Posted Date : 13-Nov-2019 , 08:31:18 am | Posted By CASANSAAR
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. Earlier five accused have been arrested in the case.
During the course of investigation their association with HDIL came into light a...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 758
|
|
Cabinet approves MoU between India and Kuwait in the field of accounting, finance and audit
Posted Date : 24-Oct-2019 , 10:07:49 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) for capacity building and strengthening the accounting, financial and audit knowledge base in Kuwait.
Institute of Chartered Accountants of India (ICAI) and Kuwait Accountants and...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 699
|
|
Key Audit Matters - KAM under Auditor's Report
Posted Date : 07-Oct-2019 , 08:41:10 am | Posted By CASANSAAR
Key Audit Matters - KAM as explained by CA.Amarjit Chopra Ji
https://youtu.be/4A33HkVS-Yw
Don't Forget to *SUBSCRIBE*
CA Sansaar YouTube Chanel.
Click on the link and Subscribe.
htt...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 2856
|
|
Two partners at NSEL Audit firm arrested by EoW
Posted Date : 05-Oct-2019 , 10:30:11 am | Posted By CASANSAAR
The Economic Offences Wing (EOW) of Mumbai Police on Friday arrested Shrawan Jalan and Amit Kabra, audit partners of SV Ghatalia & Co, the statutory auditors of National Spot Exchange Ltd (NSEL), for allegedly failing to flag lack of internal control mechanism in the exchange and “conspiri...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1309
|
|
Thomas Cook's Auditors investigated by Accounting Watchdog
Posted Date : 02-Oct-2019 , 09:29:03 am | Posted By CASANSAAR
Britain’s accounting watchdog has begun an investigation into EY’s audit of Thomas Cook’s accounts, just over a week after the world’s oldest travel firm collapsed.
The Financial Reporting Council said its enforcement division was investigating EY’s audit of the fina...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 793
|
|
PMC Bank case raises question on role of RBI, Auditors
Posted Date : 01-Oct-2019 , 09:17:09 am | Posted By CASANSAAR
The loan irregularities at the Punjab and Maharashtra Co-operative (PMC) Bank raises questions on the roles of regulator (RBI), auditor, independent directors and bank directors, Minister of State for Finance Anurag Thakur said on Monday and added that the government will look into all the areas bec...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 945
|
|
Communication or NOC from Previous Auditor
Posted Date : 10-Sep-2019 , 11:14:04 am | Posted By CASANSAAR
Communication or NOC from Previous Auditor explained by CA Sanjay Agarwal.
https://youtu.be/Dqon2gmDOeI
Don't forget to Like and share with friends.
*SUBSCRIBE*
CASANSAAR YouTube Chanel.
https://www.youtube.com/channel...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 2340
|
|
Former Auditors of IL&FS move Bombay HC against govt plea for 5-year ban
Posted Date : 23-Aug-2019 , 09:23:25 am | Posted By CASANSAAR
former auditor of IL&FS group, BSR & Associates, has approached Bombay high court to challenge the constitutional validity of provisions of the Companies Act being invoked by the ministry of corporate affairs (MCA) in its attempt to ban it for five years.
In June MCA had petitioned Nation...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 391
|
|
Reliance Capital to file Rs 10,000 cr defamation suit against its former auditor PwC
Posted Date : 14-Aug-2019 , 10:42:15 am | Posted By CASANSAAR
First, the statutory auditors resign claiming the company did not provide satisfactory answers to their queries. Then the company’s shares nosedive. Now the company is suing the auditors for false claims and damaging the company’s reputation. This is the story between Price Waterhouse &a...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 646
|
|
BSR & Co resigns as auditor of two Reliance group companies
Posted Date : 12-Aug-2019 , 11:55:24 am | Posted By CASANSAAR
BSR and Co, an affiliate firm of KPMG India, has resigned as auditor of two Anil-Ambani led Reliance Group companies—Reliance Infrastructure and Reliance Power, the company told the stock exchanges on Friday.
Earlier in June, Price Waterhouse and Co (PwC) had resigned as statutory aud...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 577
|
|
NCLT allows Government to ban Deloitte, BSR for five years
Posted Date : 09-Aug-2019 , 08:40:56 pm | Posted By CASANSAAR
In a major setback to the auditors, the National Company Law Tribunal Friday rejected Deloitte's and BSR's applications challenging the tribunal's jurisdiction to ban them from business for five years for their omissions and commissions in the ILFS Group scam.
This is the second setba...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1357
|
|
Reliance Capital joint auditors reject PWC allegations
Posted Date : 09-Aug-2019 , 08:23:17 am | Posted By CASANSAAR
Reliance Capitalon Thursday said its joint auditors have confirmed that there are "no violations" as alleged by the firm's previous auditor Price Waterhouse & Co Chartered Accountants LLP (PWC).
The board of directors of Reliance Capital on August 8 held special meeting to...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 461
|
|
MCA names 4 domestic Auditors to restate IL&FS books
Posted Date : 09-Aug-2019 , 07:52:46 am | Posted By CASANSAAR
The corporate affairs ministry Thursday proposed to NCLT four auditing firms to restate the accounts of the crippled Infrastructure Leasing & Financial Services (IL&FS) and some of its subsidiaries to verify fraudulent transactions.
The move comes even as the ministry awaits the NCLT view...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1566
|
|
Govt wants to freeze accounts of IL&FS Auditors, 21 others
Posted Date : 06-Aug-2019 , 09:32:37 pm | Posted By CASANSAAR
In more troubles for the auditors of the crippled IL&FS--Deloitte and BSR, the corporate affairs ministry Tuesday moved the NCLT seeking to freeze their bank accounts along with those of 21 others who are impleaded in the main petition in the one of the largest fraud cases.
This comes even as...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1048
|
|
Deloitte quits as auditor of DHFL
Posted Date : 06-Aug-2019 , 07:51:19 am | Posted By CASANSAAR
Deloitte has quit as the auditor of cash-strapped DHFL, sources said on Sunday.
Communication regarding Deloitte quitting as DHFL's auditor has been sent to the Ministry of Corporate Affairs, one of the sources said.
Another source confirmed that Deloitte has quit, but without citing any r...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 502
|
|
Deloitte exits as auditor of two B.M. Khaitan group companies
Posted Date : 23-Jul-2019 , 08:56:37 am | Posted By CASANSAAR
The audit woes of the B. M. Khaitan Group companies continue with Deloitte Haskins & Sells LLP exiting two companies — Mcleod Russel India Ltd. (MRIL) and McNally Bharat Engineering Company Ltd.
About a month ago, PwC had exited group flagship Eveready Industries India Ltd. (EIIL). MRIL...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 631
|
|
Government wants CCI probe on Big 4 Auditors
Posted Date : 22-Jul-2019 , 05:30:30 pm | Posted By CASANSAAR
The Indian government wants the country's antitrust body to assess whether the so-called "Big Four" auditing firms and their affiliates are hurting competition in any manner, a senior government official told reporters.
The Competition Commission of India (CCI) needs to conduct a su...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 644
|
|
NCLT allows MCA to prosecute Deloitte Haskins, BSR Associates in IL&FS case
Posted Date : 19-Jul-2019 , 09:55:27 am | Posted By CASANSAAR
The National Company Law Tribunal (NCLT) has allowed the Ministry of Corporate Affairs (MCA) to prosecute the auditors of IL&FS Financial Services (IFIN) — Deloitte Haskins and BSR Associates — based on the investigation report filed by the Serious Fraud Investigation Office (SFIO).
...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 446
|
|
|
