Page 2 - Accounting

Govt needs to adopt granular approach to support biz: PwC Chairman Krishan

The Modi 3.0 government needs to adopt granular and tailored approach to support small businesses and promote job creations to make the economic growth more inclusive, said PwC in India Chairperson Sanjeev Krishan. Supporting the development of ancillary industries, and sharper focus on urban and rural development projects as part of infrastructure creation should be other priorities of the government, Krishan said. "Prioritising job creation and productivity improvement is crucial for the new government to ensure inclusive growth," he told PTI. He noted that over the past decade, improvements in ease of doing business (EoDB) along with better infrastructure and credit access have removed several obstacles. "What would now be important will be to support job creation/increasing trade in smaller pockets with a granular and tailored approach. Simultaneously, increasing productivity would be equally important. Regulatory support and incentivisation, including PLI schemes, can help dri

KPMG, Deloitte affiliates hit with US civil penalties for exam cheating

The PCAOB permanently barred the KPMG Netherlands' former head of assurance Marc Hogeboom from the industry, chair Erica Williams said

British accounting watchdog fines KPMG $1.9 mn over Saatchi audit failings

KPMG and its partner Adrian Wilcox failed to audit with sufficient professional skepticism, according to the Financial Reporting Council, which published a decision notice on Monday

Mystery thickens in Zee fund diversion case amid reports of accounting hole

Stock tanks 14% amid reports of 10x fund diversion; Sebi final order expected by mid-April

Zee refutes report of Rs 2,000 crore accounting 'hole', calls it 'false'

A report on Wednesday said that the market regulator has found a "hole" of more than Rs 2,000 crore in the accounts of Zee Entertainment Enterprises Ltd

Banks may increase HTM holdings to reduce treasury book volatility

Although sales from the HTM category are still permitted, internal reclassifications can now only occur under exceptional circumstances

Fintech firm Enkash launches automated financial solution Olympus

The company said businesses can onboard themselves with a two-step process 'without disrupting their accounting, policies, processes & banking relationships'

Women's enrollment in finance, account courses increases by 25%: Study

Furthermore, the demand for finance and accounting courses experienced a substantial growth of 40% in 2022

Beyond the financial system: Will AA framework be a game-changer in India?

The Account Aggregator framework is being adopted across sectors, including in verifying the employment status of newly skilled workers

ICMAI CMA rank list 2023 released, check complete details

In the ICMAI CMA rank list 2023, the first four candidates topped are males and the fifth one is a female

Accounting practices at start-ups in India come under the scanner

Where valuation has overpowered value and revenue recognition is a grey area, new accounting metrics is seeing new-age ventures jump through hoops

US-based Hindenburg Research accuses Adani Group of share rigging, fraud

Adani group questions report's timing, calls it malicious

Uniqus Consultech raises $12.5 mn, eyes $100 mn revenues in next 5 years

The company plans to invest the funds raised in technology and scaling up business across India, US and Middle East

Huge impact of CAs on businesses can save the world: Julia Penny of ICAEW

In a Q&A, the head of the apex body of chartered accountants in the UK discusses the challenge of sustainability and other issues her tribe faces across the globe

Global accounting standards convergence crucial for capital inflows: Khara

Khara said the accounting profession has contributed to identifying the quality of assets that are sitting in the books of various banks

Trust, sustainability & talking robots at global accounting event in Mumbai

The 4-day event began on Friday and has delegates from across the world

Adoption of new technology necessary for transparent accounting system: FM

Finance Minister Nirmala Sitharaman on Friday said that adoption of new technology is necessary for a transparent accounting system. Transparent accounting is also so essential for sustainable economy and transparency cannot be ensured without trust and ethical accounting practices, she said. Sitharaman, who is also in charge of the corporate affairs ministry, was speaking at the 21st World Congress of Accountants that is being jointly organised by the International Federation of Accountants (IFCA) and the Institute of Chartered Accountants of India. "Adoption of new technology is necessary for a transparent accounting system. This is also necessary for sustainable livelihoods of our people and also for sustainable manufacturing and services. "Innovative technologies like Web 3.0, which has already taken over our lives, can bring about a lot of changes in the way we conduct our businesses," she said. The minister also said that technologies such as blockchain, machine learning, ..

Veranda Learning unit to acquire JK Shah Classes for Rs 337.82 cr

J K Shah trains chartered accountancy, company secretary and cost accountant aspirants

FinMin's special campaign in seven districts to deepen financial inclusion

Campaign will work to achieve saturation in respect of bank accounts, insurance/pension schemes; distribution of loans to FPOs, SHGs for setting up cold-chain infra, KCC penetration, among other thing

Govt asks Byju's to explain delay in filing audited financial accounts

Ministry of Corporate Affairs sent a letter to Byju's parent company asking them to explain the seventeen-month delay in filing audited accounts