The Institute of Chartered Accountants of India (ICAI) revised the standards on Joint Audit of Financial Statements. The practice of appointing more than one auditor to conduct the audit of large entities has been in

The Institute of Chartered Accountants of India (ICAI) has released the draft of Standards on Joint Audits for Chartered Accountants. A joint audit is an audit of financial statements of an entity by two or

Amidst of all the controversies following PNB Scam, the Institute of Chartered Accountants of India ( ICAI ) has issued an advisory regarding Allocation of Work among the Joint Auditors in case of Bank Audits. The advisory

The Institute of Chartered Accountants of India (ICAI) has released the Auditing and Assurance Standards Board has brought out the revised 2018 edition of the Guidance Note on Bank Audit for the benefit of the

In a significant move, the Department of Industrial Policy and Promotion (DIPP) has reviewed the Foreign Direct Investment (FDI) policy on various sectors regarding allowing 100 per cent FDI in single brand product retail trading

In a recent meeting held by the Chief Commissioner of Central Tax, Central Excise, and Customs, Thiruvananthapuram Zone, alongside the Special Commissioner, SGST, on March 21, 2024, they had a discussion revolving around optimising audit

The Authority of Advance ruling (AAR) ruled on the applicability of Goods and Service Tax (GST) on ice cream, allied products, and milkshakes. The applicant, M/s Sri Venkateswara Agencies is a partnership firm. The firms

The Authority for Advance Ruling (AAR) in Maharashtra has held that 18% of goods and services tax(GST) applicable to supply of food or drinks in the restaurant for consumption within or away from the restaurant

The Institute of Chartered Accountants of India (ICAI) suggested the appointment of Statutory Central Auditors (SCAs) and Statutory Auditors (SAs) of Commercial Banks, Urban Co-operative Banks (UCBs) and Non-banking Financial Companies (NBFCs). The ICAI added

The Rajasthan Authority for Advance Ruling (AAR) ruled that no exemption available on the supply of manpower services. The applicant is a sole proprietor of M/S M. D. Enterprises. The total turnover of the applicant

In the case of Adani Enterprises, the Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal(CESTAT) set aside service tax on management consultancy services as to Point of Taxation Rule POT not applicable

The Institute of Chartered Accountants of India ( ICAI ) has reportedly found the statutory auditors of Infrastructure Leasing and Financial Services (IL&FS) Ltd “prima facie guilty” of professional misconduct, The Hindu Business Line reported.

A cross-party committee of MPs has suggested that the UK's Big Four accountancy firms should be separated into audit and non-audit businesses. Deloitte, EY, KPMG and PwC conduct 97% of big companies' audits in the

The Government has demonetised the currency notes of Rs 500 and Rs 1,000 with effect from mid-night of 8th-9th November, 2016. Along with this, the Government has also laid increased emphasis on promoting digital payments.

The Government is planning to set up National Financial Reporting Authority (NFRA) as it seeks to rein in the Institute of Chartered Accountants for India (ICAI) for its perceived failure in enforcing discipline. Section 132 of