Login  |  Register  |  Forgot Password 
Below Login Ad

News Category : Auditing

SBI set to hire retired officials as concurrent auditors
Posted Date : 24-Feb-2017 , 08:30:25 am | Posted By CASANSAAR

Ahead of merger, State Bank of India   (SBI) has called upon retired officers to become concurrent auditors with the bank to oversee compliance and risks under loans and operational activities. Concurrent audits are real-time examination of transactions to ensure accuracy, bank compliance, a...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 516

RBI wants banks to create common pool of forensic Audit firms
Posted Date : 15-Feb-2017 , 08:19:04 am | Posted By CASANSAAR

The Reserve Bank of India wants banks to create a common pool of forensic audit firms so that they can pick one of them quickly whenever a high-value fraud needs to be investigated. This is aimed at ensuring that precious time is not lost in evaluating eligibility criteria of audit firms. Th...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 716

Supreme Court orders SEBI to expedite probe against PwC in Satyam Case
Posted Date : 13-Jan-2017 , 08:26:14 am | Posted By CASANSAAR

The Supreme Court on Tuesday asked market regulator Securities Exchange Board of India, or Sebi, to expedite enquiry against global auditing firm PricewaterhouseCoopers (PwC) in the corporate fraud case involving Satyam Computer Services Ltd. “Conclude the case within six months from today,...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 473

Audit finds NSE's system compromised for 18 months
Posted Date : 29-Dec-2016 , 08:39:35 am | Posted By CASANSAAR

The NSE's trading system was compromised for about one and half years, which allowed certain brokers to get preferential treatment over all others. Some of the bourse's employees helped these brokers gain such preferential access to the NSE's trading system, a Sebi-directed enquiry by co...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 644

Public Auditors' body demand for more power to PAC, Audit of FIs
Posted Date : 25-Dec-2016 , 11:18:24 pm | Posted By CASANSAAR

The Public Accounts Committee (PAC) should be given enough powers to take up cases for investigation on its own, the Institute of Public Auditors of India (IPAI) has demanded. Besides, banks, other financial institutions and projects under the PPP should be brought within the scope of CAG's a...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 409

Panel suggests relief to private companies and subsidiaries of foreign companies from Auditor rotation
Posted Date : 08-Dec-2016 , 08:38:09 am | Posted By CASANSAAR

The Standing Committee on Finance headed by Veerappa Moily has recommended that “justifiable relief” be extended to private companies and subsidiaries of foreign companies on the “auditor rotation” front. The “justifiable relief” should depend upon their capi...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 759

Expert panel on audit firms gets more time to submit report
Posted Date : 06-Dec-2016 , 09:07:58 am | Posted By CASANSAAR

A government appointed three-member panel looking into various issues related to audit firms has been given more time till January 15 to submit its report.  The group, headed by TERI Chairman Ashok Chawla, was set up by the Corporate Affairs Ministry in September following representations fr...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 472

US fines Deloitte record $8mn over audit fraud in Brazil
Posted Date : 06-Dec-2016 , 08:38:13 am | Posted By CASANSAAR

A US accounting watchdog hit Deloitte's Brazil division with a record USD 8 million fine for issuing false audits of a US-traded Brazilian airline and then doctoring papers to thwart an investigation, the agency said.  Brazil-based Deloitte Touche Tohmatsu Auditores Independentes "k...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 768

SBI plans Special Audit of associate banks ahead of merger
Posted Date : 11-Oct-2016 , 11:12:26 am | Posted By CASANSAAR

The State Bank of India is planning to carry out a special audit of the associate banks before the scheduled merger.  The SBI is on track to merge with five of its associate banks and the Bharatiya Mahila Bank. The banks are, the State Bank of Travancore, State Bank of Mysore, State Bank ...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 802

Govt forms panel to examine issues related to Audit Firms
Posted Date : 01-Oct-2016 , 07:38:14 am | Posted By CASANSAAR

The government on Friday set up a three-member expert panel, headed by The Energy and Resources Institute (Teri) chairman Ashok Chawla, to examine various issues related to audit firms, including possible adverse impact from restrictive shareholder agreements. Reserve Bank of India (RBI) deputy g...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1076

ICAI firm up view on Foreign Auditors Direct Access on Oct. 3
Posted Date : 27-Sep-2016 , 08:40:45 am | Posted By CASANSAAR

The CA Institute will, on October 3, take a final call on the tricky issue of allowing foreign firms to directly offer accounting services in the Indian market. The Corporate Affairs Ministry (MCA) had sought the CA Institute’s views on whether the government should legalise the entry of fo...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 993

EY fined $9.3m for Auditors' improper relationships with clients
Posted Date : 21-Sep-2016 , 08:27:37 am | Posted By CASANSAAR

Accounting firm Ernst & Young will pay $9.3 million to settle charges that two of its former auditors got "too close to clients on a personal level" and broke rules aimed at ensuring reviews were impartial, the U.S. Securities and Exchange Commission said . The agency said the two f...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1393

Big 4 auditing firms corner 26% of audit business in India
Posted Date : 20-Sep-2016 , 08:50:21 am | Posted By CASANSAAR

'Big 4 auditing firms’ - Deloitte, Ernest & Young Group, KPMG and Price Waterhouse Group (PwC) continue to dominate the Indian market with 26% share by volume and 30% by overall fee.  The top 10 audit firms accounted for audit of as many as 549 companies or 36% of the total. Le...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1481

RBI permits banks to hire ex-officials for internal Audit
Posted Date : 27-Aug-2016 , 07:38:10 am | Posted By CASANSAAR

With banks facing shortage of experienced staff for internal audits, the Reserve Bank of India (RBI) on Thursday allowed them to hire their retired officials for up to three years for assistance in conducting “Risk Based Supervision (RBS)”. “Keeping in view the change in demogra...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1111

Government May Offer Foreign Auditors Direct Access
Posted Date : 22-Aug-2016 , 12:36:03 pm | Posted By CASANSAAR

In a move that signals the government's intent to allow foreign audit firms to register and operate directly in the Indian market, the Ministry of Corporate Affairs has written to the Institute of Chartered Accountants of India (ICAI) to seek its views and recommendations on the government propo...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 879

Only 18% of Indian companies ready for mandatory audit firm rotation
Posted Date : 22-Jul-2016 , 07:40:42 am | Posted By CASANSAAR

Only 18 per cent Indian companies are prepared to rotate by 1 April 2017 auditors who have completed 10 years or more as required under the Companies Act 2013, a survey by Grant Thornton and Prime Database says. The survey says that only 18 per cent have either appointed auditors or have a compre...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 662

Reserve Bank of India should be audited: CAG
Posted Date : 03-Jul-2016 , 09:39:03 am | Posted By CASANSAAR

With rising financial frauds and the government’s eye on cleaning up banks’ balance sheets and cracking down on bad loans, the Comptroller and Auditor General of India (CAG) wants the Reserve Bank of India to come under the auditor’s purview too. CAG Shashi Kant Sharma, said at ...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 558

Presumptive Taxation: No Audit for turnover of up to Rs 2 Crore
Posted Date : 21-Jun-2016 , 09:57:33 am | Posted By CASANSAAR

The Finance Ministry on Monday said small businesses with a total turnover of up to Rs 2 crore will not be required to get their accounts audited if they opt for the presumptive taxation scheme. "The higher threshold (up to Rs 2 crore) for non-audit of accounts has been given only to assesse...

Continue Reading...

Category : Auditing | Comments : 1 | Hits : 2742

Auditors have access to only one set of account - SIRC
Posted Date : 05-May-2016 , 08:32:15 am | Posted By CASANSAAR

The Institute of Chartered Accountants of India (ICAI) - SIRC has said that they maintain only one set of books of accounts. It has stated that the accounts of the SIRC are still in draft form and become final only upon approval and adoption by the Regional Council. The accounts have neither been fi...

Continue Reading...

Category : Auditing | Comments : 1 | Hits : 933

SIRC's Auditor resigns over dubious accounts
Posted Date : 03-May-2016 , 08:52:35 am | Posted By CASANSAAR

In an odd turn of events, the auditors of the Southern Indian Regional Council (SIRC) of the CA Institute resigned saying the accounts of the body that certifies and regulates auditing appeared dubious. Sundararajan Associates, the statutory auditors of the SIRC and Southern India Chartered Accounta...

Continue Reading...

Category : Auditing | Comments : 5 | Hits : 2295

Government to conduct special audit of telcos like Airtel, Vodafone and Idea
Posted Date : 30-Apr-2016 , 07:56:55 am | Posted By CASANSAAR

Government will conduct special audit of telecom companies, including Bharti Airtel, Vodafone, Reliance Communications and Idea Cellular for three years to 2010-11, Telecom Minister Ravi Shankar Prasad said today.  "Government has decided to conduct special audit for three subsequent fi...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 562

Bank of Baroda norms for selecting Auditing firms challenged
Posted Date : 24-Apr-2016 , 02:59:09 pm | Posted By CASANSAAR

Assailing the decision of the Bank of Baroda, which has fixed Rs. 150-crore turnover as the minimum eligibility for auditing firms to participate in the tender for its assignments, a Chartered Accountant has approached the Madras High Court seeking to restrain officials from going ahead with the dec...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1358

Audit Report of IRCON flags concerns over Rs 422 cr payment to foreign agents
Posted Date : 14-Apr-2016 , 01:25:58 pm | Posted By CASANSAAR

An independent audit report has flagged some serious concerns over payment of Rs 422.43 crore to foreign agents by railway PSU IRCON International in respect of projects in two countries. Stating that such transactions would have an adverse effect on the functioning of the company, the aud...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 932

Simplification of procedure to deal with audit objections raised in indirect taxes by the office of by CAG
Posted Date : 12-Apr-2016 , 10:20:11 pm | Posted By CASANSAAR

Central Board of Excise and Customs (CBEC) has issued a circular to simplify the procedure of dealing with audit objections raised in indirect taxes by the office of CAG. The Circular rescinds all the past circulars and instructions and prescribes a new simplified and consolidated procedure. The Cir...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 369

No Clean Chit given to Auditors related to Mallya’s case - ICAI president
Posted Date : 12-Apr-2016 , 07:14:40 am | Posted By CASANSAAR

President of the Institute of Chartered Accountants of India (ICAI) M Devraj Reddy today categorically said that so far no ‘clean chit’ has been given to the auditors related to the industrialist Vijay Mallya’s default case. Addressing a press conference here, Mr Reddy said though ...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 954

BoB’s move to change concurrent Auditors stirs hornet’s nest
Posted Date : 05-Apr-2016 , 08:45:25 am | Posted By CASANSAAR

Bank of Baroda, the country’s second-largest public sector bank, has stirred up a hornet’s nest with its decision to not renew the contracts of an existing panel of concurrent auditors and instead issue a fresh tender with terms that practically disqualify all small- and medium-size Indi...

Continue Reading...

Category : Auditing | Comments : 1 | Hits : 1915

HC panel asks for audit of NSEL, others
Posted Date : 05-Apr-2016 , 08:38:27 am | Posted By CASANSAAR

A committee of the high court here has found discrepancies in data collated from various sources and recommended audit of eight brokers and seven clients or investors in the case of the defunct National Spot Exchange (NSEL). The panel gave its recommendation to the HC, which usually studies these an...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 298

Cost Accountants can audit accounts of cooperative societies - HC
Posted Date : 03-Apr-2016 , 07:44:00 pm | Posted By CASANSAAR

The Karnataka State Chartered Accountants’ Association has lost a legal battle against the State’s two-year-old law, which permits using the services of cost accountants to audit accounts of cooperative societies. The earlier provision of the Karnataka Cooperative Societies (KCS) Ac...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 455

CARO 2016 - Auditors to disclose corporate loan default details
Posted Date : 31-Mar-2016 , 07:49:56 am | Posted By CASANSAAR

Auditors will now have to provide specific details about loan defaults by a company including lender-wise break up in their reports, as the government strengthens efforts to curb corporate misdoings. The latest step by the corporate affairs ministry also comes against the backdrop of rising bad...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1407

Political parties should maintain properly Audited Accounts : HC
Posted Date : 28-Mar-2016 , 07:48:45 am | Posted By CASANSAAR

In a landmark judgment, the Delhi High Court has ruled that political parties should satisfy the requirement of the Income Tax Act, 1961, for maintaining properly audited accounts of income received through voluntary contributions. If this is not done, a party cannot claim exemption form paying inco...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 339

News By Categories

More Categories

Search News

 
 
 

UNIQUE AUDITING NEWS ON CASANSAAR FOR AUDITING ACCOUNTING,INTERNAL AUDIT,CA,CA FIRMS, Audit Report,Bureau Of Circulation,Procedure,Types Of Audit News

www.casansaar.com
...keeps you updated

Home

  |  News

  |  Articles

  |  Discussion

  |  CA Firms

 |  Members

 |  CA Community

 |  Jobs

 |  Empanelment

 |  Files

 |  Matrimonial

 |  Students zone

 |  Queries

 |  Classified Ads

 |  Events

 |  About us

 |   Top Members

 |  Coaching Centres

  | Testimonials

 | Judiciary

 | Notifications/Circulars

 | Book

 | eDirectory

 | Interview

 | Website

 | Emails

 | Software

 |  Score Board

 |   Press Release  

 |   Blood Bank  

  |   Opinion Poll  

  |   Feedback
 |   Advertise us

 |   Terms & Conditions

 |   Contact us
 |   Blog

  |   Sitemap

  |   Income Tax

  |   Auditing

  |   Bank

  |   Bank branch audit

  |   Banking

  |   Black Money

  |   CA

  |   CA Announcement

  |   TDS

  |   Students Zone

  |   Custom

  |   VAT

  |   Service Tax

  |   Corporate Law

  |   General

  |   Excise

  |   SEBI

  |   Finance

  |   GST

  |   ICAI

  |   FEMA

  |   ICWAI

  |   ICSI

  |   DGFT

  |   RBI

  |   IFRS

  |   CAG

  |   Budget

  |   Merger & Acquisitions

  |   International Business

  |   Shares & Stock

  |   Excel Tips

  |   International Taxation

  |   ITR

  |   Chartered Accountant

  |   Tax Audit

  |   Companies Act

  |   Money Laundering

  |   MCA

  |   Income Tax Refund

  |   NPA

  |   Income tax software

  |   CST

  |   CA Exams

  |   CA Results

  |   CBDT

  |   Accounting Standards

  |   DIN

  |   Judical Announcement

  |   MDP

  |   PAN

  |   Whats App

  |   Secretarial Standards

  |   NGO

  |   CA Convocation

  |   Finance Bill

  |   ICAI Notification

  |   CARO

  |   COMPANIES SECRETARY

  |   Accounts

Follow Us : Twitter Icon Facebook Icon Orkut Icon Linkedin Icon

CASANSAAR Updates

louboutin shoes sale louboutin shoes uk louboutin schuhe replica designer handbags

↑ Grab this Headline Animator

Developed By: CASANSAAR Copyright © casansaar

Top Accounting Firms,CA COMMUNITY,CA SANSAAR,Chartered Accountant,Ca Networking Firms,Partner Portal,Ca Assignments,CA,Online Communities For Chartered Accountant,Circle For Ca,CS,CMA and FINANCE,Articles By CA / CS / CMA,accounting news articles,Ca Firms In Delhi,CA ANNOUNCEMENT

accounting jobs,article trainees,best website creator,empanelment,income tax slab, ITR, TDS Chart,budget of india 2014-15,gst,auditing,Income tax,students zone,cpt,community matrimony for ca,Classified Ads,Community Matrimony For Ca,Students Zone,Coaching Classes,Company Secretary,Cost Accountant,Judiciary.