The Board of Control for Cricket in India, eagerly awaiting a response from the Justice Rajendra-Mal Lodha panel on the appointment of an independent auditor, may not get one by October 25 as the three-member committee is not likely to meet on Monday.
In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
Congress said it expects the truth to prevail after the report on the Rafale deal is made public.
Amidst the controversy over its figures of revenue loss on account of allocation of 2G spectrum, government auditor, the Comptroller and Auditor General, on Monday said it stood by the report submitted to Parliament late last year.
The government has paid commitment charges of Rs 86.11 crore (Rs 861.1 million) during 2009-10 in the form of penalty for not timely utilising the aid approved by multilateral and bilateral lending agencies.
The Comptroller and Auditor General of India report for 2010-11 on direct taxes, tabled in Parliament on Friday, revealed that 958 lakh (95.8 million) PANs were issued up to March 2010 but IT returns filed in the last fiscal were only 340.9 lakh (34.09 million).
Navy has refused to disclose any details about procurement of six phased-out helicopters from the US worth Rs 182 crore for which it recently received a rap from the Comptroller and Auditor General.
The Comptroller and Auditor General, whose report on a presumed loss of Rs 1.76 lakh crore in 2G spectrum allocation created a storm in Parliament, will appear before the Public Accounts Committee on Monday.
The Comptroller and Auditor General, whose report on a presumed loss of Rs 1.76 lakh crore in 2G spectrum allocation created a storm in Parliament, will appear before the Public Accounts Committee on Monday.
Violation of the rules will attract a fine of Rs 4000, the chief minister said.
With this relaxation more than 77 per cent of the depositors will be able to withdraw their entire account balance.
The Institute of Chartered Accountants of India has recommended strict penal action, including imprisonment, for auditors who are found associated with serious accounting frauds.
The Bharatiya Janata Party, however, said the governor is acting within his constitutional parameters while the "TMC is scared".
Given that the target was to reach 80.34 million families under PMUY - within three months starting April 1 - the government should have distributed at least 241.02 million cylinders by the end of June. It actually ended up distributing only 119.7 million cylinders.
Apex auditor CAG on Friday lamented that private telecom operators are not providing their account books to it, despite a request from the government.
If suitable action is not taken in corruption cases, it becomes normalised in society, the prime minister said. When a generation sees that a corrupt person in the family is let off without or very little punishment, their courage to indulge in corrupt activities grows manifolds, he said.
Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms.The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny. The auditors concerned were associate firms of international auditing entity PricewaterHouseCoopers.
The CBI on Wednesday directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged
'Due to the ongoing pandemic and lockdown, we the sports bodies are unlikely to get any sponsorship and hence we may find it very difficult to restart our activities effectively'
Government auditor CAG on Friday pulled up the Income Tax Department (ITD) for allowing irregular tax exemption to two Tata trusts involving tax implication of over Rs 1,000 crore (Rs 10 billion).
Job opportunities arise as companies try to cut costs and conform to laws, says Joyita Chatterjee.
For some, he's a bully and probable 'blackmailer' who targeted the rich and famous, especially in Bollywood, for fame, and allegedly, ransom. For others, he's finally the one brave narc who decided to do his job, no matter how powerful his quarry, observes Shekhar Gupta.
The DoT had last week sent a detailed reply to all the issues raised by the CAG.
The Ministry of Corporate Affairs (MCA) has shelved its idea of auditing the books of listed companies by independent auditors.
The newborns opens their eyes to see the world fighting a deadly disease.
Effective tax rate is the portion of profits which companies pay as corporate tax after seeking exemptions, as against the statutory tax rate of 33.9 per cent.
Even the CBI has filed a case against some unknown officials of the DoT for conniving with private companies for manipulation of licence terms and conditions.
ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
Deloitee is also the statutory auditor for Tech Mahindra, which acquired Satyam Computer through an open bid in April this year.
With audits being taken up in a host of areas including private firms now, the process demands trained manpower.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
Karunanidhi was convinced that using the 2G cases against the DMK and reopening the fodder case against Lalu Prasad Yadav were products of the Congress leadership's short-sightedness. A revealing excerpt from A S Panneerselvan's Karunanidhi: A Life.
The only reason for the new deal is to give Rs 30,000 crore to industrialist Anil Ambani, the Congress chief alleged.
The MiG29K and MiG29KUB, the aircraft carrier's primary fighters, spent more time in the hangar than in the air, with fleet serviceability remaining below 50 per cent, reports Ajai Shukla.
The dreaded Kashmiri terrorist outfit Hizbul Mujahideen may be receiving money through a Pakistan-based agency from an Islamic charity in Canada engaged in helping the poor and needy in this country.
In an attempt to avoid Satyam-like frauds, a Sebi panel has suggested rotation of audit partners signing the accounts and giving more teeth to the company's audit committee.
This comes on the heels of the department of telecom appointing private auditors to look into the books of telcos after it was detected that some of the operators were diverting revenues in segments which attracted lower licence fee.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
