It will help an independent regulator like NFRA to get feedback and also help in overall improvement of the audit profession," Ajay Bhushan Prasad Pandey said.
The audit will cover various areas, including flight standards, licensing and airworthiness.
On August 5, Indostar Capital reported its highest ever quarterly net loss for the quarter ended March at Rs 767.2 crore.
In many cases, the problem could be poor quality of materials used, or poor workmanship
Besides, such agencies will have to maintain an audit trail of the upload/modification/download with respect to KYC records of clients, Sebi said in a notification on Friday.
Set up in 2018, the National Financial Reporting Authority is an independent regulator to oversee auditing and accounting standards in India.
The NFRA had found serious lapses in the statutory audit of IL&FS ITNL for the 2017-18 fiscal, including that the company's losses were understated by at least Rs 2,021 crore.
While the RBI’s new regulations on appointment of statutory auditors for the banks and the NBFCs are well intentioned, they will not address audit quality. The private sector banks and significant NBFCs on one side, and large audit firms on the other, will all be impacted by these regulations
Experts believe start-ups have been relatively lax about auditing and accounting rules, and this case could set the tone for more public liability
A Big Four accounting firm’s CEO has said auditors should do more to uncover fraud that is material in nature
As per the report, BSR and other entities in its network used “de facto” the KPMG trademark and branding to provide audit and non-audit services while making “clearly futile attempt to show a de jure (legal) separation from KPMG.”
The PM-CARES fund, just like the PMNRF and many CM relief funds, is opaque in its functioning, even as it collects donations using State apparatus
BSR & Co has sought a new audit with expanded terms of reference. The board is yet to make a decision, a source said.
A personal finance audit will help you stay on track and make adjustments to keep your finances in order
The whistleblower allegations have raised governance concerns at Sun Pharma. Investors are better placed in proactively raising their concerns with the board, to ensure that the new governance structure at Sun Pharma is robust, in their compliance and intent
COAI's views come at a time when the telecom department is in the process of appointing at least 4-5 auditors to conduct the planned special audit of private telecom companies for period 2011-12 to 2017-18.
Set up recently, NFRA has the powers to launch a suo motu investigation on suspected accounting irregularities. It is also empowered to penalise chartered accountants and audit firms
Leading financial institutions in India and globally have started implementing blockchain technology in certain activities. Regulatory and government agencies are also showing interest in blockchain
The removal of reduction of revenue targets comes at a time when several firms are resigning as auditors of companies
NFRA will also haves powers to investigate and penalise any member or firm of chartered accountants
The bank didn't reveal the content and timing of the anonymous whistleblower's complaint
The audit is conducted in areas legislation, organisation, operations, airworthiness, accident investigation, etc and "randomly" pick an airline to check its compliance of the safety regulations.
The Comptroller and Auditor General of India will audit the UN Secretariat in New York, a job which till now was the exclusive domain of developed countries, CAG Shashi Kant Sharma said.
Drug maker Dr Reddy‘s Laboratories will be put to a crucial test in the second week of April as the company gears up for major USFDA audits at its facilities in Srikakulam located some 70 kms away from port city of Visakhapatnam.
Brisk polling was going on as around 35 per cent of the total 1.98 crore electors exercised their franchise till 1 PM in the high-stakes Punjab Assembly elections, wherein 1,145 candidates are in the fray.