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ICAI reviews financial statements of Vijay Mallya group firms

ICAI reviews financial statements of Vijay Mallya group firms

Chartered accountants' apex body ICAI is reviewing financial statements of certain Vijay Mallya group firms to assess the role of auditors and has warned of strict disciplinary action in case of violations.


Companies Act exemptions to help private cos run smoothly: ICAI

Chartered accountants' apex body ICAI Tuesday said latest exemptions provided under the companies law would help private companies run their business smoothly.

Companies Law changes to improve ease of doing biz: ICAI

The fresh amendments to the Companies Law will go a long way in improving ease of doing business, chartered accountants' apex body ICAI has said.

Ease of doing biz: ICAI seek more changes to companies law

To make doing business easier, chartered accountants' grouping ICAI has sought more changes in norms governing companies, including those pertaining to related party transactions.

Real estate biz accounts for major chunk of black money: ICAI

When it comes to flow of black money, real estate business accounts for a major chunk of of such illicit funds, accounting regulator ICAI has told the government while seeking urgent steps to check this menace.

ICAI starts proceedings in Rs 870-crore Reebok scam

Chartered accountants' apex body ICAI has started proceedings against a former Reebok India official for his alleged involvement in the Rs 870 crore scam at the sportswear maker that came to light in 2012.

Accounting norms applicability may hit power firms' profits

At present, many power companies capitalise direct and indirect costs attributable to the fixed assets and borrowing costs, even in case of extended delay in capitalisation of projects, for reasons beyond the control of these companies.

Ready with updated Indian accounting standards: ICAI

The new norms are converged with International Financial Reporting Standards (IFRS), which is being followed in more than 100 countries.

United Bank faces auditing, corporate governance probes

Besides, the Institute of Chartered Accountants of India (ICAI) is believed to be looking at the role of the bank's auditors, sources said, although there was no official word on these fresh probes.

Sebi revamps expert panel on disclosures, accounting standards

Sebi has reorganised its committee on disclosures and accounting standards that advises the market regulator on matters related to disclosure requirements and accounting practices for various market participants.

ICAI initiates enquiry into issues involving NSEL auditors

Accounting regulator ICAI Friday said it has referred to the disciplinary committee the matter involving auditors of National Spot Exchange Ltd on a complaint following the Rs 5,600 crore payment crisis at NSEL.

ICAI begins scrutiny of FTIL, NSEL issues

With the auditors withdrawing their audit report on crisis-hit NSEL's promoter Financial Technologies, the accounting watchdog ICAI has begun looking into the matter and has sought all available details from the concerned stakeholders.

CA student hacking Ambani's IT details: ICAI to hold inquiry

The Institute of Chartered Accountants of India on Saturday said it will conduct inquiry in the matter of the 21-year-old CA student allegedly hacking the Income Tax account of industrialist Anil Ambani.

Strong hiring for CAs expected despite economic slump: ICAI

About 1,500 candidates were offered jobs during ICAI's campus placement programme in 2012.

ICAI seeks details on Nokia tax issue from I-T dept

After it received the details on the case, the Institute of Chartered Accountants of India (ICAI) said it would decide if the issue is in anyway related to auditing or accounting malpractice.

Have started inquiry against Reebok's key officers: ICAI

The case relates to an FIR by Reebok India alleging fraud by its former Managing Director Subhinder Singh Prem and Bhagat. Both of them have denied the charges.

ICAI seeks info on companies being probed for fraud schemes

In the wake of Saradha scam in West Bengal, a special task force of the SFIO has started investigations into the affairs of over 50 companies, including 14 entities of Kolkata-based Saradha group.

Cost accountants suggest simple format to collect cos data

In a statement, the Institute said it would provide all support, if required, to any government agency in efforts to curb incidence of defrauding investors by promising logically improbable returns on investment.

Cost accountants suggest simple format to collect cos data

Amid instances of people getting duped by fraudulent money pooling schemes, the Institute of Cost Accountants of India (ICAI) Saturday suggested a simple format for collecting financial data that would help the public to have a better understanding about the activities of companies.