Page 6 - Deloitte

Deloitte launches India-centred global generative AI market incubator

The global incubator, which is location agnostic currently but will be relying heavily on the Indian workforce, aims to harness the relationships Deloitte has with Indian academia, industry, and SMEs

Deloitte begins AI incubator to drive tech innovation, talent capabilities

Deloitte has launched Global Generative AI Market Incubator, that aims to promote innovation and serve businesses in India and across the globe, a release said on Tuesday. As generative AI boom drives global demand, it is a significant step towards nurturing tech innovation and talent in the country, enabling enterprises to achieve their business goals, according to the release. The AI incubator will leverage in-depth sector knowledge and AI/ML (Artificial Intelligence/Machine Learning) expertise of professionals, including data scientists and engineers. The launch of the Global Generative AI Market Incubator by Deloitte also aligns with the central government's agenda of nurturing tech talent and AI-driven opportunities, it added. "Our focus is to harness generative AI's disruptive potential in partnership with our key alliances by leveraging our targeted industry solutions that help clients realise sustainable business outcomes and achieve real transformations," Nitin Mittal, ...

India's no 2 tycoon Gautam Adani may avoid stepping on Mukesh Ambani's toes

A fresh blow arrived Saturday as Deloitte Haskins & Sells LLP, the auditor of Adani's ports unit, abruptly resigned the same week June quarter results showed record revenue and operating profit

Deloitte exit triggers sell-off in Adani stocks; m-cap down by Rs 25k cr

Stocks sink 2-4 per cent, leads to Rs 25,000-crore hit on m-cap

Trading strategies for Adani group stocks amid Auditor's resignation

Barring Adani Ports and Special Economic Zone, no other group company of Adani shows a favorable trend in the present technical structure,

Top headlines: Adani probe ends, chana prices rise ahead of festival season

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Deloitte, Adani Ports & SEZ spar over Hindenburg Research's claims

Had sought external examination of Hindenburg's allegations: Deloitte

Adani Group firm says reasons for Deloitte resignation not convincing

Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP's resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are "completely independent". "The Audit Committee (of APSEZ) was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move," said Gopal Krishna Pillai, former union home secretary and ..

Top headlines: 7 laws get Presidential nod, UP identifies new mining areas

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Deloitte quit after not getting auditorship of other group companies: APSEZ

Deloitte was not willing to continue as APSEZ's statutory auditor and, therefore, it was agreed to amicably end the client-auditor contractual relationship

Adani Ports auditor Deloitte plans to resign after flagging concerns

The Adani Group has previously said it's compliant with Indian laws and welcomes Sebi's investigation

India GDP to grow 6-6.3% in FY24, economic prospects brighten: Deloitte

India is likely to grow 6-6.3 per cent in the current fiscal year ending March 31, 2024, Deloitte India said in its economic outlook, forecasting growth surpassing 7 per cent over the next two years if global uncertainties recede. With the probability associated with a recession in major industrial countries this year trimming, several economic indicators such as the tight labour markets and reduced risk spreads post the US banking crisis suggest that downside risks to global growth are subsiding. Yet, there remain significant uncertainties around the actions of the central banks of major economies and the oil price movements, the economic outlook said. "Amid continuing global uncertainties, India continues to see strong economic activity," it said. "Keeping in view the resilience shown by the economy, Deloitte is optimistic about the outlook and has put out its expectation for this year and the next. Deloitte expects India to grow between 6 per cent and 6.3 per cent in FY 202324, a

Industry players divided over capacity, penalty issues for PLI-AAC bids

"The ministry is committed to finalizing the bidding documents and proceeding with the rebidding process at the earliest," government officials said

Byju's reaches agreement to rework terms of $1.2 billion loan: Report

If the loan terms are reworked successfully, the creditors are expected to drop their demand for accelerated repayment

Resignation does not absolve Auditor of onus of reporting fraud: NFRA

The NFRA in a circular has said that it has noticed that auditors are not fulfilling their statutory responsibilities relating to reporting of fraud as required by the Companies Law

Health-tech Mojocare closure: Rising gaps seen in corporate governance

Sources in the know said that after the financial irregularities came to fore, investors realised that the business model of Mojocare was not viable

Online retail market to grow 2.5x faster than offline till 2030: Deloitte

The overall offline market, however, will continue to be the bigger market, with a total value of $1,605 billion in 2030

Byju's staff say morale waning amid turmoil amid layoffs at edtech firm

Byju's has already let go of several thousand employees this year due to slowing demand and it is locked in a legal battle with its lenders and faces regulatory scrutiny

Troubles mount for Byju's, auditor Deloitte resigns over financial results

Separately, three board members reportedly resign but the company denies this

Deloitte flags sourcing from inappropriately approved vendors at BharatPe

Auditor Deloitte has flagged inappropriately approved vendors and excess payments at BharatPe, where its former MD and co-founder Ashneer Grover has been accused of cheating and embezzlement of funds. In its latest annual report, BharatPe presented opinion of its statutory auditor that said the company's internal control system for vendor selection as well as for approval of invoices for purchase of goods and services were not operating effectively, resulting in procurements at inappropriately approved prices. After devoting a page on the statutory auditors' report, BharatPe's annual report in the following section stated that "there were no instances of fraud reported by auditors to the board of directors". This was used by Grover to attack reportage, saying no journalist has read the annual report of BharatPe which has clearly writes of no fraud. "Ek bhi journalist ne @bharatpeindia ki annual FY22 report nahi padi - auditor ne clearly likha hua hai 'NO instances of FRAUD reported