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Auditing
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Auditing
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Auditor disowns Prithvi Information report; refuses to sign accounts
The auditor of the Hyderabad based software outsourcer Prithvi Information Solutions (PISL) have refused to sign the financial accounts of the company for 2010-11.
According to a copy of the minutes of the annual general meeting (AGM) seen by ET and also filed by the company with BSE, VK Asthana &...
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Our objectivity critical to media audit'
Audit and advisory company Spatial Access Media Solutions recently launched a new logo and restructured its services under three SBUs (strategic business units). The company works with advertisers to help them achieve continuous improvement in the efficiency of their marketing services investments. ...
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HC wants all audit records on NRHM funds
The Lucknow bench of the Allahabad High Court on Thursday summoned all audit reports pertaining to utilisation of NRHM funds in UP, prepared by the state and central teams.
The court also summoned the record of the tenders of UP Small Industries Corporation Limited, which was given work worth Rs 3...
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Social audit committee for multiple institutions in Lokpal
A slew of measures involving multiple institutions rather than one institution for doing everything for everyone is the Suchna Evum Rozgar Ka Adhikar Abhiyan's mantra for a stronger Lokpal bill. A draft of its own version of the Lokpal bill has been completed and was made public on Monday by Aruna R...
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Audit firms may also face action in Satyam-like cases
New Companies Bill to propose equal responsibility of auditors, firms. Unlike in the multi-crore Satyam fraud, audit firms will not be able to wash their hands of corporate scams perpetrated by companies in connivance with their partner auditors.
The Companies Bill, 2011, being finalised by the Min...
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Audit report: Funds diverted in dargah
The 2009 audit report has blamed a few members of dargah committee in Ajmer of allegedly misusing donors' fund. The committee comprising nine members, including the president appointed by the Union ministry of minority affairs, administer the 12th century shrine of Khawaja Moinuddhin Chishti as per ...
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CAG to go public with audit reports: Flagship schemes
Prime Minister Manmohan Singh may not be happy with the way the apex auditor of the country, Comptroller and Auditor General (CAG) of India, goes public with its findings, but the office of the CAG is bracing up for more public interactions in the coming days.
CAG briefings, however, will not be on...
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Hike in audit fees sought
Chartered accountants of the country have demanded hike in concurrent audit fees of banks and other internal audit fees.
Central council member of the Institute of Chartered Accountants of India (ICAI), Chartered Accountant Venkiteswaralu said this while inaugurating a two-day workshop on Interna...
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Palike has not had internal audit for 51 yrs
Though the state auditor-general has been damning the BBMP year after year for its poor performance, the Bruhat Bangalore Mahanagara Palike has reportedly ignored its internal audit -- right from 1964, even in its earlier forms when it wasn't known as BBMP but as the city corporation.
The allegati...
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SEBI plans independent auditor for IPOs
The Securities and Exchange Board of India (SEBI) is contemplating introducing a process audit to be carried out by an independent auditor of initial public offerings or IPOs.
The auditor would examine the procedures followed by registrar & transfer agents responsible for processing applicat...
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