 "The notice was issued under the FEMA after completion of probe by the adjudicating authority")
Price Waterhouse Network of Firms in India (PW India), the Indian affiliates of accounting giant PwC, announced on Thursday that it will no longer provide non-audit services to Indian audit clients governed by the National Financial Reporting Authority. These are services such as tax advisory and consulting.
“Given the important role that auditing plays in the Indian economy, everyone relying on audit needs to have the same high level of confidence in auditor’s independence, objectivity and effectiveness,” said Subramanian Vivek, partner at Price Waterhouse.
Determining whether an auditor is independent under current laws, say experts, is difficult as
“Given the important role that auditing plays in the Indian economy, everyone relying on audit needs to have the same high level of confidence in auditor’s independence, objectivity and effectiveness,” said Subramanian Vivek, partner at Price Waterhouse.
Determining whether an auditor is independent under current laws, say experts, is difficult as
