BUSINESS
Who should conduct a board's evaluation?
Though the Indian law does not prescribe any format for a board's evaluation, globally an evaluation by an external team is preferred.
BUSINESS
The need for mandatory board evaluation in India
A board's evaluation is essential for every listed company. Hence, at least once a year, the board is expected to file a report stating how the evaluation of its own self, its committees and individual directors was undertaken.
ECONOMY
Coal licensees via discretionary allotment prone to rent-seeking: Economic Survey
Related-party transactions spike in three years following an allotment of a coal mine via a committee-based allotment, reveals the Economic Survey.
ECONOMY
Economic Survey profiles wilful defaulters via related party transactions, share pledges
Annual report sections on related-party transactions and data on share pledges provide tell-tale signs of a wilful defaulter when compared to distress defaulters and non-defaulters
ECONOMY
Multilateral deal for cross-border tax rules likely by 2020-end
Safe harbour provisions proposed by the US found little favour with other countries.
ECONOMY
CFOs must be made legally liable in case of outright fraud: Prabal Basu Roy
All parts of the corporate ecosystem must conform to stringent governance norms, says a former finance head
BUSINESS
Slow start to GDPR regime is no sign of easy times ahead
Hence, as 2020 rolls forward, CFOs can expect to see many more high profile cases of data protection violations. And as a corollary, they can expect legal fees on these counts to increase as the GDPR-related case law settles.
BUSINESS
Impact of new lease accounting standard goes beyond financial reporting
While the new standard does not change the overall cash flows, it does change the financial and operational ratios, and volatility in earnings.
BUSINESS
CFOs are increasingly favouring rolling forecasts, here's why
As business cycles have changed and the operating environment has become more dynamic, the method of planning with a 12-month budget is clearly becoming inadequate, if not obsolete.
BUSINESS
Tax Department gears up to collect calamity levy, education cess from exempt cases
This clarity on the calamity levy is likely to affect the ongoing disputes on these additional levies. Tobacco and petroleum companies, which were addressed through a special notification after the GST roll-out, may be affected by this decision.
BUSINESS
Is China close to launching its central bank digital currency?
According to reports in fintech media, the Chinese central bank, the People's Bank of China (PBoC), on January 10, issued a press release saying that it is almost ready with a new digital currency.
