Leading FMCG firms reported a nearly two-fold increase in the share of quick commerce within their total e-commerce sales, and this surge is anticipated to continue, said a joint report by Deloitte and industry body FICCI. Quick Commerce, also known as hyperlocal delivery, is now reaching around 35 per cent of online sales and has become a preferred channel for urban consumers. "About 18 per cent of consumers prefer purchasing food and beverage items from Q-commerce channels.
'Corporations that were recruiting 15 or 20 [students] have reduced the number to two or three.'
The ministry has also made Udayen Sen of Deloitte, and Kalpesh Mehta and Sampath Ganesh of BSR as respondents as they were the signatories of the audit reports of the company.
Real, Barca topple United off perch to become top earning clubs
The US unit of PwC will lay off about 1,800 workers, marking its first formal job cuts since 2009 as the company seeks to restructure its technology group. This comes amid a slowdown in demand for some of its advisory business, according to a Wall Street Journal report. Half of the anticipated layoffs will target offshore positions, impacting a wide range of employees from associates to managing directors.
Emerging economies such as India are seeing high attrition rates, which are estimated to be in double digits.
Renjen had to go through 15 rounds of interviews before he got the job.
Global business consultancy firm, Deloitte, plans to almost double its India workforce to 24,500 over the next 30 months, a top company official said.
The two firms, however, cannot be termed as auditors of Satyam as the appointment of an auditor can be done only after securing the company's shareholders' consent. Sleuths investigating the Satyam fiasco on Tuesday conducted raids at the Hyderabad office of PriceWaterhouseCoopers, Satyam's auditing firm, and are understood to have recovered several crucial documents.
But it does not mention its views on the government demand to ban these two auditors for five years from business.
Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, reflecting higher domestic consumption. As per the government data released on Sunday, gross GST revenues from domestic transactions grew 9.2 per cent to about Rs 1.25 lakh crore. Revenues from import of goods were up 12.1 per cent to Rs 49,976 crore.
Other reputed firms like McKinsey, Boston Consultancy Group, PwC, Ernst & Young and KPMG had also applied for getting the mandate from Bandhan.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
Loss-making national air carrier Air India has appointed global consultancy firm Deloitte to ratify a prospective financial restructuring plan for the company, which was prepared by SBI Caps, a source said.
The Reserve Bank of India has ordered a special audit of private sector lender Bank of Rajasthan's accounts, suspecting violation of operational norms by the lender, including transparency in lending.
The Big Four accounting firms have increased the hiring of people from technology backgrounds in India amid an increased focus of clients on digital transformation, especially after the Covid-19 pandemic. EY India said that it has expanded its overall tech talent pool by 3x in the last three years across service lines including consulting, tax, assurance, and strategy & transactions. "Today over 50 per cent of our workforce is from STEM (science, technology, engineering and mathematics) and technology background," it said, adding that it continues to hire significantly in the areas of AI, cloud computing, data analytics and cybersecurity to help its clients in transformation.
Deloitte will assist Hyderabad Metro and the Andhra Pradesh government in preparation of bid documents, evaluation of bids, revision of the financial model, selection of concessionaire and negotiations with financial institutions for financial closure. The consultancy contract will be in force for one year.
These companies, the study said, will have to either dip into its cash balance or borrow in short term.
Deloitee is also the statutory auditor for Tech Mahindra, which acquired Satyam Computer through an open bid in April this year.
'Filing a workplace harassment case against a well-known company or professional can bring risks like retaliation, harm to your career and emotional stress,' warns Smita Shetty Kapoor.
Bharti Telesoft, a supplier of value added services platforms to wireline and wireless carriers, has been ranked as one of the country's fast growing 50 technology companies by Deloitte Technology.
GST collections in July rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday. This is the third-highest-ever monthly collection recorded since the indirect tax regime was rolled out 7 years ago on July 1, 2017. According to the data, total refunds stood at Rs 16,283 crore in July.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
Global management consultancy firm Deloitte said on Tuesday it would strengthen Indian operations by doubling its headcount to 12,000 and is open for acquisitions to garner 10 per cent of global revenues from the country by 2010.
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.
The value of private equity (PE)-backed mergers and acquisitions (M&As) in India reached a six-year low during the first seven months of the current calendar year, amid ongoing global uncertainties. The total value of these deals stood at $6.2 billion during the period, down from $9 billion in the same period last year, and lower than the $14 billion recorded during the corresponding period in 2019, according to data from LSEG Deals Intelligence. PE funds pool capital from investors, including high-net-worth individuals, to invest in high-return opportunities.
IT firm Nucleaus Software Exports on Tuesday said it has featured in the Deloitte Technology's ranking of the Fast 500 companies in Asia Pacific. \n
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
Jobs requiring AI skills carry a significant wage premium, with some roles offering up to a 25 per cent increase in wages, notes Manoj Nagpal, vice president, professional services, OpenText, an information management company.
About 65 per cent of the CFOs are positive about India's growth
"If HR isn't responsive, it's critical to keep records of all interactions -- e-mails, dates and any conversations you had. If HR fails to help, escalate the matter to higher management or the internal complaints committee," says Smita Shetty Kapoor.
There have been almost no year-on-year changes in market share within the Big Four.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
The main issues confronting CFOs currently, according to Deloitte, are the current economic slowdown, a depreciating rupee and inflation.
Additional investment of $190 billion has to be made in the next eight years.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
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