Page 6 - Auditors
Investors backing off as auditors continue to resign from leading firms
When auditors resign, it is a clear sign of trouble. It makes sense to cut losses in such firms
 "Investors backing off as auditors continue to resign from leading firms")
Under regulatory glare, Auditors raise decibels on gaps at listed firms
Auditors seem to be getting more vocal about financial gaps at listed companies, possibly due to an enhanced regulatory glare, as independent audit reports for a number of publicly traded companies have begun flagging issues like net-worth erosion and lack of necessary disclosures. In some cases, the auditors have even begun quitting the audit mandate, while in many others they have expressed their reservations about whether their clients can continue operating on "going concern" basis with net-worth turning negative, losses mounting and diminishing prospects of required revenue and cash flow generation. The companies that have seen auditors flagging various issues include Jet Airways, L&T's shipbuilding arm, Manpasand Beverages, Vakrangee Ltd and Atlanta Ltd. Experts believe this trend may get even more prominent going forward with several sectors facing financial difficulties at a broader level and also due to corporate governance related issues at individual levels. Experts ...
 "Under regulatory glare, Auditors raise decibels on gaps at listed firms")
Rising level of scrutiny: Auditors take guard on corporate breaches
The Centre has already proposed to establish an independent National Financial Reporting Authority for the auditing
 "Rising level of scrutiny: Auditors take guard on corporate breaches")
When auditors raise the red flag against certain questionable business
However, there are many in the fraternity, like former ICAI president Amarjit Chopra, who feel one may be making too much out of the observations made by auditors
 "When auditors raise the red flag against certain questionable business")
Cabinet nod for setting up of NFRA as independent regulator for auditors
The regulator would have a chairperson and three full-time members. Besides, there would be a secretary
 "Cabinet nod for setting up of NFRA as independent regulator for auditors")
Letters: Auditors' rotation a must
Is four years too short a time to establish a comfortable relationship?
Only 18% of India Inc ready for auditor rotation, says survey
Others yet to finalise plans but most view auditor change as a step in the right direction
 "Only 18% of India Inc ready for auditor rotation, says survey")
Firms begin hunt for new auditors
However, with the panel not even extending the transition period to 2018-19, the auditor market structure is set for a major upheaval
