Audit Financial News

07.08 / 16:13

audit Fire safety audit ordered four days before AIIMS-Delhi blaze

AIIMS' old OPD building here on Monday, the institute had ordered a third-party fire safety audit of its premises. According to the August 3 order, the audit by the Central Building Research Institute (CBRI) has already started.

04.08 / 18:15

UPS Assurant performer country NOT audit Audit unreliable, invalid if files not submitted: NFRA

NEW DELHI : Absence of audit documentation and failure to submit audit files to the regulator is clear evidence that the audit is unreliable and invalid, National Financial Reporting Authority (NFRA) has said in a regulatory order. NFRA said not maintaining audit files is viewed seriously by global regulators including Public Company Accounting Oversight Board of the US.

02.08 / 16:35

performer audit Sebi lays down new norms for portfolio managers’ audit

capital market regulator in a circular said, “ In order to have uniformity, it has been decided that APMI, in consultation with SEBI, shall specify standardised Terms of Reference (‘ToR’) for aforesaid audit of firm-level performance data." “The standard Terms of Reference specified by APMI shall be applicable with effect from October 01, 2023, and shall be mandatorily followed by all Portfolio Managers for the purpose of annual audit of firm-level performance data," the Sebi circular added. The capital market regulator further said the standard ToR will include requirement for Portfolio Managers to consider clients’ portfolios under all services for the purpose of audit of firm-level performance data.

02.08 / 08:17

COST UPS BLOCK Fighting PwC Deloitte expansion audit Audit firms fight to block expansion of fraud detection role

New York | The world’s largest accounting firms are fighting to block new rules in the US that would force them to take more responsibility for rooting out fraud at the companies they audit.

31.07 / 11:53

UPS Aviat CEO audit Audit watchdog names new CEO as Sir Jon Thompson heads to HS2

Audit and accountancy watchdog the Financial Reporting Council has appointed a new chief executive as incumbent Sir Jon Thompson resigns to lead rail network HS2.

30.07 / 10:45

Progressive Power debate audit IIM amendment bill proposing power to Prez to audit, order probes, appointments triggers autonomy debate

amendment bill of the Centre that proposes the President will be Visitor to the Indian Institutes of Management (IIMs) with powers to audit their functioning, order probes and appoint as well as remove directors, has triggered an «autonomy» debate for the prestigious B-schools. The bill to amend the IIM Act of 2017 was introduced in the Lok Sabha last Friday amid disruptions by opposition members over the Manipur violence issue. While the Congress has alleged that PMO wants to maintain the tightest possible control and ensure «ideological purity», the IIMs are concerned about the amendment possibly taking away their autonomy rather than just fixing accountability.

28.07 / 22:11

Ethereum regulation data reports audit Worldcoin releases audit reports showing resolved security issues

Proof of humanity protocol Worldcoin released its audit reports on July 28 as criticism of its data collection practices continues to mount. The new reports were conducted by security consulting firms Nethermind and Least Authority.

28.07 / 17:23

FIVE Enterprise Fine audit Coffee Day Global case: NFRA slaps Rs 2.15 cr fine, imposes ban on 2 auditors, 1 audit firm

National Financial Reporting Authority (NFRA) on Friday slapped penalties of Rs 2.15 crore on three entities, including two auditors, besides barring them for varying periods for lapses in the audit of Coffee Day Global Ltd for 2019-20. The case pertains to the diversion of funds worth Rs 3,535 crore from seven subsidiary companies of CDEL to Mysore Amalgamated Coffee Estate Ltd (MACEL).Coffee Day Global Ltd (CDGL) and MACEL are subsidiaries of the listed entity Coffee Day Enterprises Ltd (CDEL).

27.07 / 10:39

Provident Twitter Target Platform Action country Indian audit Delhi High Court calls for periodic audit of safety, security in Indian Railways

Railways, the Delhi High Court said on Thursday, as it asked the state-run transport behemoth to ensure periodic audit of safety measures on trains and at railway stations. The high court's order came while disposing of a petition filed by lawyer Kush Kalra, seeking safety and security measures like baggage scanners, hand-held metal detectors and CCTV cameras at all railway stations in the country and installation of anti-collision devices.

27.07 / 08:05

Provident JPMorgan PwC Deloitte PayDay show Macquarie reputation audit Macquarie to consider PwC reputation in audit review

Macquarie will consider PwC’s culture and reputation issues as it reviews whether to change its long-time auditor, the company has told shareholders.

21.07 / 09:49

UPS Assurant audit When facing problems, cos should also look at strengthening audit committees, independent directors: NFRA chief

audit committees and empowering independent directors, NFRA chief Ajay Bhushan Prasad Pandey said on Friday as he mentioned about the trend of companies setting up advisory boards for governance. The Chairperson of the National Financial Reporting Authority (NFRA) also emphasised that he was not saying that an advisory board for a company should not be there as that always adds to the value.

18.07 / 18:47

Accessibility audit CAG audit of accessibility for disabled in government buildings soon

India (CAG) has ordered a pan-India audit of disability features in government buildings constructed or retro-fitted over the last one year. The buildings come under the purview of the government's primary construction arm — Central Public Works Department.

18.07 / 14:47

regulation FCA treasury committee National audit National Audit Office to scrutinise FCA as its responsibilities grow

The FCA said it welcomes the National Audit Office’s review.

18.07 / 01:55

Citigroup HSBC PwC UBS Wirecard audit UBS hands EY one of biggest audit deals in global banking

London | UBS executives have chosen EY for one of the world’s most lucrative banking audit contracts after deciding to retain the big four firm following the bank’s takeover of Credit Suisse.

17.07 / 07:53

UBS audit EY scores major audit contract after UBS-Credit Suisse merger

EY will stay on as UBS's auditor after its Credit Suisse takeover, according to reports, as the Big Four firm scores one of the highest value contracts in the banking sector.

14.07 / 09:51

Provident Reuters Assurant audit India taking tougher road to ESG reporting: KPMG global audit head

ESG) metrics are tougher than those mandated globally, said a senior executive at KPMG. India's market regulator on Wednesday mandated that the top 150 listed companies by market capitalisation would have to give «reasonable assurance» on ESG metrics starting this financial year. That would mean a company's auditor would check its ESG metrics and disclosures, tracing them to their source to confirm accuracy.

12.07 / 19:15

Aware Merit Action audit NFRA to clarify on past audit jurisdiction soon

New Delhi: The National Financial Reporting Authority (NFRA) will soon offer clarity on its authority to review the statutory audits of companies conducted before its establishment on 1 October 2018. The clarification will address concerns of stakeholders following a Supreme Court ruling on Monday dismissing a petition which raised questions on the watchdog’s retrospective jurisdiction, a person aware of the development said. The watchdog will dispel doubts about its jurisdiction for past periods, and clarify the extent of regulatory oversight of statutory auditors in the country.

11.07 / 22:19

Blockchain Technology Analysis Opinion Tech Tech Analysis NOT audit Experiments show AI could help to audit smart contracts, but not yet

While artificial intelligence (AI) has already transformed a myriad of industries, from healthcare and automotive to marketing and finance, its potential is now being put to the test in one of the blockchain industry’s most crucial areas — smart contract security.

11.07 / 06:43

Provident Landmark PwC Tencent NetEase audit US renews audit inspections of Chinese firms

US audit officials have started a fresh round of inspections of New York-listed Chinese companies in recent weeks amid simmering tensions between the world’s two largest economies.

07.07 / 14:09

COST Waves Platform audit Meme Coin Value: DigiToads Hacken Audit Is Why Investors and Enthusiasts Are Pouring Millions Buying TOADS

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

07.07 / 03:35

Reuters Tencent NetEase audit US renews audit inspection of China firms: Report

NetEase Inc, Bloomberg News reported on Thursday. The inspection, part of an agreement signed last year, comes amid rising tensions between the United States and China, including U.S.

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