Auditors

Relaxing composition norms, tender reforms and capital support measures are among the changes that the ministry of corporate affairs is planning to build globally competitive domestic auditors

Abrupt mid-term auditor exits rise in FY25; raise governance concerns

The number of mid-term auditor resignations saw an increase in FY25 when compared to the previous fiscal when 34 such exits were announced.

Auditors of AGS Transact issued an adverse report after Q3FY25 results

AGS Transact has defaulted/delayed in certain loan repayments, GST registrations in certain states have been suspended/cancelled and there have been delays in payment of statutory dues, employee salaries and vendor payments, a Crisil note observed.

Does spurt in abrupt resignations by statutory auditors point to governance issues?

Experts believe that this is a major governance issue and while the reasons for such sudden departure needs to be examined and analysed, auditors have mostly been very ambiguous in terms of giving the reasons for resigning

Byju's auditor BDO resigns after seeking forensic audit, founder Raveendran alleges blackmail tactics

In a letter to Byju's board, which only includes the founder's family currently, BDO has however said the company lacked transparency, a sentiment even previous auditors have highlighted.

Auditors are under fire from the NFRA

The accounting authority NFRA is passing a stream of orders against allegedly errant auditors, conducting swift investigations and passing detailed orders. But, there is a risk of overreach as well 

Inside DeHaat: Auditor concerns, governance lapses and fast-depleting funds

Bleak funding prospects, operational inefficiency and the pressure to grow rapidly have slowed DeHaat’s relentless march. Moneycontrol spoke to stakeholders, industry watchers, and experts to get a closer look at the troubles that are dogging the agritech ‘soonicorn’.

Erring auditors may escape direct heat from SEBI’s wrath

SEBI’s recent order in the Brightcom Group case indicates it may not take any direct direction against auditors for negligence, leaving that aspect to other specialised regulators 

Crowdsourcing ideas can help auditors meet stakeholders' expectations: NFRA chief

The head of the National Financial Reporting Authority (NFRA) mentioned about the Brydon review report on the suggestion that an audit committee may publish a formal invitation to shareholders to express any requests they have regarding the areas of emphasis they wish the auditor to incorporate in the audit plan.

Ernst & Young to pay $100 million fine after auditors cheated on ethics exams

Ernst & Young, one of the world’s largest auditing firms, has agreed to pay a $100 million fine after U.S. securities regulators found that some of its auditors had cheated on ethics exams — and that the firm did not do enough to stop the practice.

Can SEBI act against errant auditors? 

Auditors claim SEBI has no jurisdiction over them. But that has not stopped SEBI from hauling auditors over the coals when cases of fraud emerge at listed companies. Who is right?

Five key highlights of RBI Governor Shaktikanta Das’s speech at NAAA

RBI Governor Shakitkanta Das was addressing the probationers and officers at the National Academy of Audit and Accounts (NAAA).

RBI Auditor Appointments | The slip between the cup and the lip

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

Explained | How new RBI rules change the way auditors function in banks

The role of auditors has been questioned repeatedly whenever bank frauds have happened in the past, including during the infamous PNB fraud and YES Bank, IL&FS episodes.

SEBI’s new conduct rules much needed but fund managers may turn risk-averse

The market regulator is reacting to cases of governance lapses at some mutual funds with a new code of conduct

SEBI board meet: Here's all you need to know

The regulator plans to reduce the notice period under Regulation 42 of the Listing Obligations and Disclosure Requirements (LODR) from seven working days to three.

Mumbai Police arrest two auditors in PMC Bank scam case

The arrested duo, Jayesh Sanghani and Ketan Lakdawala, served as statutory auditors when the scam was committed.

MCA summons Gautam Thapar, auditor and other key personnel of CG Power amid fraud probe

The MCA also conducted a physical inspection of the CG Power headquarters on August 30

WOTS UP | Auditors continue to be in limelight for wrong reasons; a carmaker's bizarre strategy

Part 8 of our 'Word on the Street' column, which gets you the unreported chatter from the world of business and markets, put together by our fly-on-the-wall reporters.

No country for individual investors; why DHFL should be made a test case for investor protection

Enough is enough: when will the authorities wake up and stop the wholesale duping of small investors?

Editor's Take | IL&FS to be audit watchdog NFRA's first test case

The National Financial Reporting Authority has been set up as an independent regulator for chartered accountants, to enforce accounting and auditing standards, therefore, enhancing investor and public confidence in financial disclosures of companies.

Auditors’ dilemma – to sign or to resign?

An auditor in a corporate entity is one of the custodians of the faith and trust of the multitude of stakeholders.

Submit audit reports with consolidated results: Bourses to cos

As per Securities and Exchange Board of India (Sebi) norms, in case the listed entity opts to submit unaudited financial results, it has to be accompanied by a limited review report by the statutory auditors.

Tree House Edu clarifies SES' doubt over high receivables

Rajesh Bhatia, MD of Tree House Education & Accessories clarifies that of Rs 43 crore receivables, Rs 35 crore of outstanding cash will be paid over next three years.

Cos Act: Government for retrospective auditor rotation

The government proposed rotation of auditors with retrospective effect, in its draft rules for the new Companies Act. CNBC-TV18's Payaswini Upadhyay reports that the ministry, which put out draft rules to accompany 16 of the 29 chapters in the Act, call for changes in accounting and auditors.